Unemployment at Two-Year Low
The national numbers on unemployement are out and the White House is thrilled. The jobless rate has dropped to eight-point-nine percent which is the lowest rate since April of 2009. This is the third straight month the unemployment rate has gone down. The jobless rate for February was down a tenth of a percent from January.
The report also said that 192-thousand new jobs were created in the month of February with the construction and manufacturing sectors contributing to that total with 30-thousand jobs each. In addition, 45-thousand jobs were added to professional and business services. Meanwhile, more than 13-and-a-half-million people remain unemployed in America.
Coupled with the strong job data and fears subsiding over the oil supply, Wall Street stocks were much better yesterday. The Dow gained 191-points, the S&P 500 rose 23 points and the Nasdaq gained 51 points. Light, sweet crude oil was the only thing that didn’t go up. (Thank god!) Oil fell by 32 cents to end up at 101-dollars-91-cents a barrel.