The SBAM Advocate Weblog: Where will new jobs come from?

The Detroit News

Employers slashed jobs by 63,000 in February, the most in five years, the starkest sign yet the country is heading dangerously toward recession or is in one already.

The Labor Department's report, released today, also showed that the nation's unemployment rate dipped to 4.8 percent as hundreds of thousands of people -- perhaps discouraged by their prospects -- left the civilian labor force. The jobless rate was 4.9 percent in January.

Job losses were widespread, with hefty cuts coming from construction, manufacturing, retailing and a variety of professional and business services. Those losses swamped gains elsewhere including education and health care, leisure and hospitality, and the government.

Comment: It's odd to see the unemployment rate drop at the same time that job numbers declined. Yes, people left the labor force, but that happens every month.

A 4.8% national unemployment rate is still pretty low, by historical standards. If only Michigan's rate was that low! Of course, if you are the one who is out of work, the unemployment rate is 100%.

SBAM works hard to support fast-growing entrepreneurs, who, research says, create most new jobs. Watch next week for our release of an Entrepreneurial Legislative Agenda. (Michael Rogers)

Verify your Comment

Previewing your Comment

Posted by: |

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:

Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

The SBAM Advocate Weblog

The Small Business Association of Michigan focuses the power of small business to remove the legislative and regulatory barriers to entreprenurial success. Help us by joining the fight at sbam.org.

About

Where will new jobs come from?

TrackBack

Comments

Verify your Comment

Previewing your Comment

Post a comment

Recent Posts