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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Feb. unemployment rate remains unchanged at 9.7%

The official national unemployment rate remained unchanged at 9.7 percent in February, the Bureau of Labor Statistics said moments ago.

Forecasters predicted the rate would rise from 9.7 in January to 9.8 percent in February.

Non-farm payrolls dropped by 36,000 in February. The non-farm payroll job-loss number in January was revised to 20,000.

The February number was statistically not affected by the snowstorms that covered much of the United States, the government said, because it is impossible to know if a worker showed up for an hour of work or a half-day because of bad weather. That doesn't mean the snow did not affect unemployment; it means that the bureau can't quantify how the snow affected unemployment.

Yesterday, the number of new jobless claims filed the previous week fell by 29,000, after spiking the week before. The four-week moving average for new jobless claims fell slightly to 470,450, which is a good, but it's still not low enough for solid job creation. Economists say that consistent job-creation in this economy can't take place until the weekly jobless claims number gets down into the low 400,000s.

Historically, unemployment has remained high for months -- if not quarters -- following the end of every recession dating back 40 years. Employers are unlikely to start hiring workers back until they see a couple of positive quarters in a row.

Economists believe that the unemployment figure will hang near 10 percent through at least the remainder of this year, creating problems for incumbent members of Congress seeking re-election in November.

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By Frank Ahrens  |  March 5, 2010; 8:40 AM ET
Categories:  Data , The Ticker , Unemployment  | Tags: unemployment  
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Next: Truer unemployment rate rises to 16.8%

Comments

Another "snow job" from the Obama administration and the liberal media.

Now wonder they have no credibility.


Posted by: Jerzy | March 5, 2010 8:46 AM | Report abuse

Will OBAMA go on another jobs "saved or created" tour of the rust belt? Will the White House tout successes where none exist? I'll bet they will.

Posted by: iphony | March 5, 2010 8:52 AM | Report abuse

Did everyone notice how our corrupt liberal/progressive MSM wolfpack press, who helped install/elect Obama in 2008 took time over the last couple of days to make "excuses" for Obama and the Democrats?

Notice how we were all prep on how the bad winter weather, global cooling I guess, was probably going to keep the job numbers down?

Yep......Welcome to Nazi America.....is there any doubt anymore.......?

POST = dirty dishonest liberal/progressive propaganda outlet for the Democrat Party

Posted by: allenridge | March 5, 2010 8:58 AM | Report abuse

..."Wow America has the Republicans/Blew it Bush/Administration "RUINED YOU BUT GOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOD!

..."Lost 8 and a half MILLION/JOBS, hmmm,

...Left you record DEBT/DEFICIT/BILL

....$1.5 TRILLION and My favorite/fact,

..."Left office with the "LOWEST JOB APPROVAL RATING IN THE HISTORY OF THE UNITED STATES PRESIDENCY PEW POLL REPORTED!

.."Be SURE NOW YOU RUN and vote/Republican
again...

..............."APPRECIATE IT!

.."Wow America, have the Republicans RUINED YOU BUT GOOD/RECORD/FACTS PROOF OF THAT!

...."Thanks once again to the "Great Washington Post to point out to all Americans what happens to America when it votes Republican its votes for Disaster!

Posted by: ztcb41 | March 5, 2010 8:59 AM | Report abuse

And this is good news? According to Obama the $787 billion stimulus package would keep unemployment under 8%. Where's the headline on this failed promise Washington Post?

Posted by: Atlanta1 | March 5, 2010 9:01 AM | Report abuse

You gotta love the slant this article has: It almost makes you think there are more jobs, by saying job loses were fewer! Well they should be fewer, there is fewer people working to have jobs to lose! Again we have more people unemployed, and they make that sound positive........

Posted by: chipgiii | March 5, 2010 9:04 AM | Report abuse

U6 is up.

Don't know what the U6 is? maybe you shouldn't be voting.

Posted by: docwhocuts | March 5, 2010 9:10 AM | Report abuse

"...The fundamentals of the economy are strong." GW Bush, June 2008. Three months before the collapse and his disappearing act during the crisis. Anyone remember a GWB sighting between September 2008 - December 2008? They hid him away because whenever he made a statement the market dropped 700 points.

Posted by: diebrucke | March 5, 2010 9:14 AM | Report abuse

WOW! So,it sure looks Team Obama and his
Royal Arrogance From Kenya Marxist Comrade
Dictator Barack Hussein Obama have once again lied,and conned,and deceived the people about Obama Focusing On Jobs,as it
looks more like Obama's Arrogant Obession
With His Obamacare takes priority over the
creation of new jobs for American workers!

However,the latest new Unemployment Numbers
are unchanged from last month,so all we can
say here is, Your Doing A Heck of a Job
Here Obama and your pathetic Team Obama!

Please vote the Human Ping Pong Ball His
Royal Arrogance Barack Hussein Obama's
Worthless Incompetent Incumbent Democrat
Congress Out in 2010 and make Comrade Obama
a One Term Obama And Out in 2012! Time to
take back America for Americans!!!!!!!!!

Posted by: carleen09 | March 5, 2010 9:18 AM | Report abuse

CRAP, CRAP, & more "CRAP"! - Un-Employment is in reality around 17-18% at a Minimum! The average Worker today works 33-Hours per Week. da! Rediculous America! - And the $RICH get $RICHER!! sO ON TOP OF 17% UNEMPLOYED, we also have another 8% Under-employed! - But, also, the NON-LIVABLE WAGE JOBS ARE GROWING!! Right now, the average Full-Time Worker earcn about $47 per Hour. So where are all these $High Wages Going America?! - To the Top 10% of Workers. Da!? -- Real FAIR; Real JUSTICE; Real AMERICAN!? -- It doesn Not matter what Job, - NO-NO Worker, whom is a 'Head-of-Household' should have to work for less than the 'Median' average,- of $23.50 per Hour!! - And if anyone asks the $tooo-Bigs about how they would like to work for $23.50 per Hour,-- then they would Laugh and teel You that they ain't doing didddly for that slave-labor wage!!! -- The same-ol' same-ol', until WE-the-People get rid of the Criminal Globalist "DERIVATIVE-PUSHERS" whom caused this Economic Terrorist CRISIS;- AND SENT OUR' GOOD $PAYING Manufacturing JOBs OVER-SEAS!!!!!! --- Repeal the anti-Constitutional 'Federal Reseve Act' - NOW AMERICA!!!

Posted by: jward52 | March 5, 2010 9:19 AM | Report abuse

Another "snow job" from the Obama administration and the liberal media.
Now wonder they have no credibility.
Posted by: Jerzy | March 5, 2010 8:46 AM |
___________________________________________
This from the guy who posted today that 75% of Americans disapprove of Obama (actually, his word was "distain".) Now exatcly who is it that has no credibility?

Posted by: Lefty_ | March 5, 2010 9:21 AM | Report abuse

I think the unemployment rate is much higher than 9.7%. U.S. citizens are losing or getting layoff from their jobs daily. I don't care about illegal aliens losing their jobs. They need to return back to their countries and take their anchor babies with them.

Posted by: blackomega | March 5, 2010 9:23 AM | Report abuse

Is everyone enjoying the Great Republican Depression?

If so, the GOP is now offering... more of the same, they have some repackaged Harry Potter School of Economics policies to help relieve you of the last of your cash and retirement accounts.

Go for it, teabaggers!

Posted by: losthorizon10 | March 5, 2010 9:23 AM | Report abuse

The unemployment figure is "fiction", because it is based on the number of people drawing UEC.

The "growth v. decline" in unemployment is also a flawed number. There is an economic standard called "the law of diminishing returns" which is conveniently forgotten when the govt. releases this 'fudged' data.

Essentially, diminishing returns means that when you approach a certain statistical level, the probability of change decreases.

Simply, with 100% employment, there cannot be an increase in employment. When unemployment reaches 20%, with 25% - 30% employed by govt., (fed / state / local), any increase in "actual" unemployment means that many basic services, such as keeping power plants running, will suffer. Some of these jobs are "indispensible", i.e., unemployment can NEVER reach them without eliminating basic necessities.

10% unemployment is an understated number, probably understated by more than 8%

Posted by: esquire2 | March 5, 2010 9:24 AM | Report abuse

That stimulus of almost a trillion dollars sure is making a lot of jobs. The only ones it made were for more government non productive pencil pushers who have not contributed even a usable box of nails to the economy.

The WaPo in it's usual fashion brags about holding the line at 9.7. How many more should be added who have now stopped looking for unavailable work and thrown in the towel?

It is appalling that the campaigner is so centered on a health bill that will add trillions to the debt because he sees a defeat of the bill as the death knell for '10 and the chances of reelection in '12. It is not unreasonable to believe this narcissist has the idea that anything he plans is infallible. I cannot recall any past president ,and I go back to FDR's campaigns, who has the gall to fly in the face of opposition from the public including independents and those rock ribbed democrats who voted for him.

Posted by: rmilitello | March 5, 2010 9:24 AM | Report abuse

We are always informed of the UNemployment rate but, never about the employment rate.

Why is that?

Posted by: OldHippie | March 5, 2010 9:25 AM | Report abuse

Sure, and like so many other reports this one will be 'adjusted' when few are paying attention.

There's job creation happing alright, the 'public sector union' has grown tremendously while the private sector sinks.

Posted by: cathyjs | March 5, 2010 9:28 AM | Report abuse

Passing health care is more important than 10% of America out of work. When it hits 20% then maybe the Dems will act.

Posted by: FLvet | March 5, 2010 9:35 AM | Report abuse

So -- when Democrats saved the economy and did stimulus that stopped the bloodletting of job losses republicons complained. And now that unemployment is starting to revers republicons complain that Democrats are not doing anything, regardless of what was laready done and the fact that it is working. They really do live in an alternative universe.

And republicons still refuse to ackowledge the interconnectedness of pasing the health care packagne later this month and the economic growth picture. Becase if they dare be honest they would have to admit that President Obama is the most visionary and politically courageous leader the nation has since since FDR.

Posted by: John1263 | March 5, 2010 9:41 AM | Report abuse

The problem of high unemployment must ultimately be solved in the private sector economy, and that is unlikely to occur with liberals in control of the government. In the depths of their souls, liberals are happiest when they are bashing the private sector, whether it be Toyota, Walmart, GM, insurance companies, oil companies, or anybody else. This leaves them with no job-producing strategy other than government spending, which accomplishes little or nothing to create permanent productive jobs.

Posted by: bubba31138 | March 5, 2010 9:47 AM | Report abuse

Woo-hoo! Unemployment is only 9.7%! Economists expected 9.8%! Yay, the recession is over! Our economy is saved!

Oh, wait a minute... Unemployment is still 9.7%. And this is what Uncle Sam is using to determine that the recession/depression is over, because unemployment remains high after the recession ends?

I guess I missed that little jewel in Econ 101. I'll go out and spend money now, 'cuz Uncle says it's safe now.

Posted by: c0lnag0 | March 5, 2010 9:51 AM | Report abuse

there are more than 30 million unemployed and the number keeps going up...
obama is not doing anything because he doesn't want to upset his foreign masters...
why did America appoint such a loser...

Posted by: DwightCollins | March 5, 2010 9:55 AM | Report abuse

"...The fundamentals of the economy are strong." GW Bush, June 2008. Three months before the collapse and his disappearing act during the crisis. Anyone remember a GWB sighting between September 2008 - December 2008? They hid him away because whenever he made a statement the market dropped 700 points.

Posted by: diebrucke | March 5, 2010 9:14 AM
==============================

"Fannie and Freddie are finanically sound..."

Barney Frank one week before they failed....

BTW $115 billion so far to these two liberal/progressive run instiutions.... and more bailout is comming......

Posted by: allenridge | March 5, 2010 9:55 AM | Report abuse

I was laid off about 6 months ago. And it was definitely a tough time in my life. I hadn't been in the job market in many years - and now I found my self in a very competitive one.

One piece of advice is to have your resume professionally done. It is what gets you in the door with hiring managers. There are a number of services out there. They range in prices from $40 to $150. I went with a service that charged $49 and was very happy - so you don't have to spend and arm and leg to get this done. I do believe it was worth it to me. I am employed now and quite relieved! I wish the best for all others job hunting out there.

The service I used was ResumeSolutionsPro.com.

Best of luck you you all!

Posted by: johngolf | March 5, 2010 9:57 AM | Report abuse

""...The fundamentals of the economy are strong." GW Bush, June 2008. Three months before the collapse and his disappearing act during the crisis. Anyone remember a GWB sighting between September 2008 - December 2008? They hid him away because whenever he made a statement the market dropped 700 points.
Posted by: diebrucke | March 5, 2010 9:14 AM"
==============================
"Fannie and Freddie are finanically sound..."
Barney Frank one week before they failed....
BTW $115 billion so far to these two liberal/progressive run instiutions.... and more bailout is comming......
Posted by: allenridge | March 5, 2010 9:55 AM | Report abuse "

the dems knew what was going on and did nothing because a meltdown was the only way obama would get elected...
and obama is not American first...
he has foreign masters...

Posted by: DwightCollins | March 5, 2010 9:58 AM | Report abuse

"The official national unemployment rate remained unchanged at 9.7 percent in February..........."

.....Now go to the top of this "story" and see how the liberal/progressives at the corrupt POST have a "red down arrow" next to the 9.7% number.......really.

Corrupt liberal/progressive propaganda............never stops at the POST

Posted by: allenridge | March 5, 2010 9:58 AM | Report abuse

Change we can believe in from Zippy and his chain of fools. Buyer's remorse anybody?

Posted by: theBozyn1 | March 5, 2010 10:03 AM | Report abuse

Funny. I remember during the republicon recession of 2001 people were talking about underemployment, which conservatives all pooh poohed as nonsense. It is not nonsense then and it is not now. however, it does not change the FACT that the current Depression is cut from whole cloth out of conservative ideology. The massive infusion of investment capital from the multiple upper income bush tax cuts flooded investment markets with loose money looking for a home, and homes is where it went. Motgage backed securities and the funny new idea of the investment you selll - -credit default swaps. Put together with the esential abdication of regulation of financial institutions (no, not just freddy and fannie you ignorant bemighted tea baggeing palinistas) created the perfect storm.

So - the storm probably cost 100,000 jobs in the totals from last months, which means absent those natural incidents we are really looking at the beginnings of job growth. And it is wholly and only because we have had a reversal of conservative policies, albiet in a limited one for now. Liberalism as always comes to the rescue of the people after their systematic violation by conservatives.

Posted by: John1263 | March 5, 2010 10:04 AM | Report abuse

obama better not count census work as employment...
obama must have told these people to keep the unemployment rate under 10%...
sad that he has to lie because he doesn't want to do anything about it...

Posted by: DwightCollins | March 5, 2010 10:06 AM | Report abuse

Everybody wants to keep blaming the dems. But everybody forgets what got us here in the first place.8 years of republican rule that's what.And everyone expects Obama to fix it in one year of his first term.

GET REAL AMERICA!

Posted by: scholarly122 | March 5, 2010 10:19 AM | Report abuse

New Jersey resident are getting a reminder about how wonderful electing republicons is for your state. christie is gutting public ed already. Sure to be a real favorite by summer. He should help Democrats keep their seats in this region.....

Posted by: John1263 | March 5, 2010 10:21 AM | Report abuse

Thank you ex-president Bush and dictator Chaney for ruining the no longer United States of America. Thank you!

During the Bush-Cheney regime, I experienced the crash early. What you saw as the puppet dictators ran out of office was the aftermath of the legitimized raping of the economy during the Bush-Cheney years. And EYE used to BE a republican. Imagine my surprise when I saw what they were doing.

Obama has been in office for a little over a year. The republicans are deliberately blocking any chance of fixing the mess. I submit that if the republicans were to agree with Obama and assist in fixing the mess left by their own puppets, then we could turn things around before the second Great Recession that is coming this year.

Of course that's not going to happen. Bend over a little more because here it comes! The Ponzi scheme of capitalism is about to be exposed.

Posted by: GeckoHiker | March 5, 2010 10:23 AM | Report abuse

Wow. People complain about the lack of civility in Congress and our political climate has soured.

Congress is a mirror of America and the lack of civil discourse here is disheartening.

Last I checked, we are all in this together.

Posted by: onespeeder | March 5, 2010 11:05 AM | Report abuse

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