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U.S. Unemployment Falls to Lowest Rate in Four Years

Mar. 8, 2013 8:34am Becket Adams

The unemployment rate fell to 7.7 percent from 7.9 percent in February, the lowest it has been since President Barack Obama took office, the U.S. Bureau of Labor Statistics reported Friday.

The report — compiled before sequestration took effect — notes that the private economy added 236,000 jobs. Increases were seen in professional and business services, construction, and health care.

“The unemployment rate edged down to 7.7 percent in February but has shown little movement, on net, since September 2012. The number of unemployed persons, at 12.0 million, also edged lower in February,” the report reads.

Here’s unemployment broken up by group:

Men: 7.1 percent
Adult women: 7.0 percent
Teenagers: 25.1 percent
Whites: 6.8 percent
Blacks: 13.8 percent
Hispanics: 9.6 percent
Asians: 6.1 percent (not seasonally adjusted)

The number of people on long-term unemployment (i.e those who have been out of work for 27 weeks or more) in February was about 4.8 million. This accounts for 40.2 of total unemployment, which is an increase from last month’s 38.1 percent.

The civilian labor force participation rate and the number of people employed part-time were both essentially unchanged from January: The former coming in at about 63.5 percent and the latter at about 8.0 million.

“In February, 2.6 million persons were marginally attached to the labor force, the same as a year earlier,” the report notes. “These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months.”

“They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey,” it adds.

It continues:

Among the marginally attached, there were 885,000 discouraged workers in February, down slightly from a year earlier … Discouraged workers are persons not currently looking for work because they believe no jobs are available for them.

The remaining 1.7 million persons marginally attached to the labor force in February had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

Markets liked what they heard and continued their week-long ascent on Friday:

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Comments (99)

HLGarret
Posted on March 8, 2013 at 9:06am
I know so many people who have quit looking for work….pay no attention to the man behind the curtain!

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- IndyGuy
  Posted on March 8, 2013 at 9:21am
  How’s about we find the true figure…Take the population of adults from 18-65 and then subtract the number of full time jobs=true unemployment…
  
  Report this comment
- Cavallo
  Posted on March 8, 2013 at 9:28am
  At this rate it’ll be 2020 or 2025 before we see employment rates equal to George W Bush’s first term.
  
  Report this comment
- Mil-Dot
  Posted on March 8, 2013 at 9:38am
  Right on Indy,
  But, why, we can’t do that. They have to then subtract those with brown **** and green eyes, and take the number of those that wear ties to work and multiply it by 1.5872. And if you work outside they divide that number by the square root of 43.59 and add it to the outside temperature, then……………..
  
  Report this comment
- mikem1969
  Posted on March 8, 2013 at 9:41am
  Yea, these are just the WH numbers, and they do not reflect those that have given up work, those that went from full to part time, and those that are underemployed. I want the real numbers
  
  Report this comment
- The Jewish Avenger
  Posted on March 8, 2013 at 9:47am
  So how many people are on the dole? welfare since they gave up looking for a job?
  
  about 12 million right?
  
  So 7.7% + 7.7% = 15.4%
  hmmm….
  
  Total amount of money you can make monthly and still receive Welfare
  $1000
  
  Total Number of U.S. States where Welfare pays more than an $8 per hour job
  40
  
  Number of U.S. States where Welfare pays more than a $12 per hour job
  7
  
  Number of U.S. States where Welfare pays more than the average salary of a U.S. Teacher
  9
  
  Total number of Americans on food stamps
  46,700,000
  
  Stay with me…
  
  Total number of Americans on welfare
  4,300,000 (Huh?)
  
  Percent of the US population on welfare
  4.1 % (if 4.3mil = 4.1% then 46.7 million would be 44.52%)
  
  Total government spending on welfare annually (not including food stamps or unemployment)
  $131.9 billion
  
  I was going to make a point about this but I’m too disgusted to care anymore at the moment
  
  Report this comment
- IndyGuy
  Posted on March 8, 2013 at 9:52am
  @skimmer57….You forgot to add….”Sarcasm”…
  
  Report this comment
- missdagnytaggart
  Posted on March 8, 2013 at 10:00am
  The markets may be on the up and up but the dollar is worth less and less each day.
  
  Report this comment
- G-WHIZ
  Posted on March 8, 2013 at 10:03am
  Dona forget the thousands of workers laid-off each year after tax-season!!
  
  Report this comment
- cessna152
  Posted on March 8, 2013 at 10:06am
  @skimmer57,
  
  This is exactly what happened under GW Bush but with lower gas, higher incomes, 1/2 the unemployment rate yet you slandered, belittled and scorned him…Why? What you’re saying is the GW Bush years were great as well? I’m sure since Obama and Bush’s policies mimic each others you have no criticism of Bush’s policies, right? The both have the same exact “outcome”….
  
  Report this comment
- skimmer57
  Posted on March 8, 2013 at 10:09am
  I know. Let’s dig holes in our back yard and get plenty of seeds and gold dust and Glenn’s blue jeans and wait for the caliphate to come! The only time to come out would be to attend one of Glenn’s restoring something or another get together! Did anybody see that picture of Michelle Bachman eating that giant hot dog at a county fair? Priceless! Gold God and Guns baby!
  
  Report this comment
- darkeningskies
  Posted on March 8, 2013 at 12:28pm
  @skimmer57
  
  ain’t it so fun being lied to
  
  if you only had a brain
  
  Report this comment
- Dethklok91
  Posted on March 8, 2013 at 12:31pm
  Mr. and/or Mrs. SKIMMER57,
  
  This is what you must know:
  
  You’re horrible at trolling.
  
  It is so.
  
  Report this comment
- DontStopBelieving
  Posted on March 8, 2013 at 1:23pm
  skimmer57 = one of the “low information” people that Rush speaks about daily.
  
  Report this comment
- A_CALL_TO_CONSCIENCE
  Posted on March 8, 2013 at 1:27pm
  True unemployment is like 15-20%.
  
  Report this comment
- skimmer57
  Posted on March 8, 2013 at 2:32pm
  Dethlok– Settle down. Throw open the window on your double wide and breath. Slap on your Beck blue jeans and go for a walk! Take your dog! Give your Mommy a hug.The world is not ending!
  
  Report this comment
- BOUGHT YOUR SILO YET?
  Posted on March 8, 2013 at 10:29pm
  This has to be a lie. No way I believe this. I also know way to many people still out of work and still looking. Can’t believe that we are being lied to like this. Makes one very, very insecure about their leaders and what they will and won’t say to fit their agenda. Audacity seems to be a common theme throughout this administration.
  
  Report this comment
MiCurmudgeon
Posted on March 8, 2013 at 9:04am
Figures don’t lie , but liars figure. If you don’t count those who have quit looking or have run out of Unemployment Payments it is possible to cook the books and make things look better than reality.

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- Walkabout
  Posted on March 8, 2013 at 9:27am
  It is BS.
  
  Some freaking troll will drive by, shoot their mouth & tell us that we are crazy. Their hope is that eventually over time they will persuade, one by one if necessary, that any or all policies left of center are the way to go.
  
  Well they can’t troll all the news & opinion sites or even all the important ones. Besides most of the trolls have the intellect, education & life experiences similar to Bill Ayers
  
  In February Multiple Jobholders Rose By A Record, As Full-Timers Dropped, Part-Timers Increased
  
  http://www.zerohedge.com/news/2013-03-08/february-multiple-jobholders-rose-record-full-timers-dropped-part-timers-increased
  
  Report this comment
AmericanWomanFirst
Posted on March 8, 2013 at 9:03am
anyone else having a problem with FOX cable news not airing in their local vicinity? Same thing with CNN not airing this mornin…99 channels and the 2 channels I want to tune in to…nadda…zip and low and behold the jobs numbers announcement…

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- stejondeb
  Posted on March 8, 2013 at 9:24am
  We were notified yesterday that solar interference could be expected on FOX and ESPN through Sunday. Something about the sun and satellite being in a direct line with the earth..
  
  Report this comment
- IndyGuy
  Posted on March 8, 2013 at 9:40am
  @AmericanWomanFirst…Don’t worry…You’re not missing anything except O’Reilly showing his true Progressive tendencies…And CNN? Pfffft…
  
  Report this comment
SpankDaMonkey
Posted on March 8, 2013 at 8:59am
.
The whole country has fallen to it’s lowest point ever……….

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HOOT_OWL
Posted on March 8, 2013 at 8:58am
You know what else keeps falling..?

US Labor Force Participation Rate:
63.50% for Feb 2013

And what was it in March of 08”…? Drum roll please..…66.10 %

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- HOOT_OWL
  Posted on March 8, 2013 at 9:18am
  http://ycharts.com/indicators/labor_force_participation_rate
  
  Report this comment
- spfoam1
  Posted on March 8, 2013 at 9:31am
  US Labor Force Participation Rate is at 63.50%, compared to 63.60% last month. Everything keeps getting worse.
  
  Report this comment
- zorro
  Posted on March 8, 2013 at 9:57am
  Thanks for the link, Hoot_Owl.
  
  Report this comment
honor007
Posted on March 8, 2013 at 8:55am
I wonder what the “real” number is….guess we will have to wait until next week when they will most certainly change it.

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- Beast1150
  Posted on March 8, 2013 at 3:00pm
  Sorry, you are going to have to wait a little longer than next week for the real numbers. However, next month when the real “adjusted” numbers come out, it will be because of the sequester, and the republicans fault that the numbers have gone back up. Amazing how that worked back in November before the election, and it will work again. When the March figures come out we will be over 8% again, and that, of course, is the Rep. doing and Barack will naturally be blameless again.
  
  Report this comment
huey6367
Posted on March 8, 2013 at 8:55am
ONly because more and more people are falling off the U3 radar. Check the U6 number. Check the work force participation number. What do they say? Things are not getting better. We are still in a recession.

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- RR1
  Posted on March 8, 2013 at 8:58am
  http://www.dailyjobcuts.com
  
  The recovery is still weak by all means.
  
  Report this comment
- Caniac Steve
  Posted on March 8, 2013 at 9:01am
  agreed…it’s like baseline Budgeting..AKA Fuzzy Math ??
  
  Report this comment
- huey6367
  Posted on March 8, 2013 at 9:07am
  And the U6 number went from 14.4 to 14.3.
  The job participation rate fell from 63.6 to 63.5.
  Do the math.
  
  Report this comment
Sargeking
Posted on March 8, 2013 at 8:52am
Lame brain media and biased Obama Economist spin doctors rule the Bully Pulpit but people aren’t buying their lines anymore and never again. The REAL unemployment number is 36% and climbing. Need proof? Look around. Thanks.

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UNALIEN
Posted on March 8, 2013 at 8:52am
numbers are cooked

birth death model aka manipulation accounts for 102,000

labour participation rate drops from 63.6% to 63.5%

last month revised down 26,000 (shifted)

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- Walkabout
  Posted on March 8, 2013 at 9:31am
  Oh look, a person, who is too smart to live in a 1984-ish world.
  
  You’ve done the break down faster & more succinctly than I have in the past. If I ever disagree with you in the future I had better recheck my numbers.
  
  Report this comment
woodyee
Posted on March 8, 2013 at 8:51am
Lol!

They’re bringing Elvis out to ring the opening of the Exchange today!

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- progressiveslayer
  Posted on March 8, 2013 at 8:58am
  Is it going to be fat Elvis or the 68 cool Elvis?
  
  Report this comment
- woodyee
  Posted on March 8, 2013 at 9:07am
  It’s Dead Elvis…which is about as credible as the unemployment report.
  
  Report this comment
- skimmer57
  Posted on March 8, 2013 at 9:13am
  The stock market at record highs our troops on their way home and unemployment on it’s way down! Thank you Mr.President!
  
  Report this comment
- sparkyrules
  Posted on March 8, 2013 at 9:18am
  Elvis Presley,by his own good and charitable nature,wouldn’t want to be a part of this mess.
  
  Report this comment
- woodyee
  Posted on March 8, 2013 at 10:10am
  @SKIMMER – I rest my case.
  
  Report this comment
JonSigMan
Posted on March 8, 2013 at 8:51am
Lots of jobs in “manufacturing” assembling weapons and ammunition for sale…..duh…don’t get to excited people. They have a lot of catching up to do to meet demand.

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IMCHRISTIAN
Posted on March 8, 2013 at 8:49am
Morals and ethics have also fallen to a low level.

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dublinthewagons
Posted on March 8, 2013 at 8:49am
As mooshelle said ” Barack has brought us from darkness to light ”
Now stand between the tracks and wait for the train. Can you see its headlight?

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Grace1798
Posted on March 8, 2013 at 8:49am
I heard a woman on tv who is making $80,000 dollars sitting at home on unemployment. Nice huh? She said she wants to work but it’s hard to overcome the fact that she’s making more money sitting at home than going out to work dealing with difficult people and things. I, myself am making 30,000. a month. It’s barely worth it for me to spend money on gas to go to work for that much money, yet I do because I have NEVER sponged off the taxpayer dollar and I never will! When I retire, I will still have to work till I die thanks to OBAMACARE which will kill all the grannies and grandpaps by the LIBS throwing us over the cliff. Obamacare is doing it even when the libs lied and said it was the GOP. It’s obvious that Obamacare has SLASHED Medicare….HELLO…what does this tell you? GOP did not do that. OBAMACARE did and more bad news is on the way with Obamacare.

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- SovereignSoul
  Posted on March 8, 2013 at 9:25am
  I don’t know…$30,000 per month sounds pretty good to me.
  
  Report this comment
- catty
  Posted on March 8, 2013 at 10:51am
  I don’t believe a word of this. You can’t afford gas with $30k per month?
  
  Report this comment
- ihasa
  Posted on March 8, 2013 at 5:56pm
  Maybe she meant 30,000 cents? Or perhaps she’s spouting nonsense, who knows!
  
  Report this comment
- Walkabout
  Posted on March 8, 2013 at 6:53pm
  Grace check your numbers. They must be off, if I am agreeing with Catty.
  
  Report this comment
- firman
  Posted on March 8, 2013 at 8:08pm
  Probly meant 3,000 a month. Or she is using Obama math.
  
  Report this comment
Southernsoul
Posted on March 8, 2013 at 8:48am
This is a breaking report. Updates will be added ass they become available.

hehe, The Blaze said, ass.

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firman
Posted on March 8, 2013 at 8:48am
We have twice as many people unemployed today as we did in ’08. People need to realize that when your unemployment runs out, you are no longer considered unemployed, thus skewing the numbers. Also, as companies reduce their work force there are fewer available jobs, which also lowers the rate. Bottom line is the rate is meaningless. What matters is how many people are jobless. Big difference.

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progressiveslayer
Posted on March 8, 2013 at 8:47am
This Marxist regime wouldn’t dream of cooking the books to make them look good. They wouldn’t cancel white house tours to make these traumatic ‘cuts’ to the budget look like they’re causing problems. Marxism is based on the big lie and that’s all we’ve gotten from this regime from day one and that’s all we’re ever going to get. Lie lie deny.

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- sparkyrules
  Posted on March 8, 2013 at 9:08am
  ‘The unemployment rate fell to 7.7 percent from 7.9 percent in February, the lowest it has been since President Barack Obama took office, the U.S. Bureau of Labor Statistics reported Friday.’
  
  Hey ProgressiveSlayer,I found a pound of Gold today,just laying in the street.Nobody claimed it….
  
  Report this comment
- progressiveslayer
  Posted on March 8, 2013 at 9:27am
  That’s quite a find there sparky,was there a leprechaun nearby?
  
  Report this comment
Grandpa_Tx
Posted on March 8, 2013 at 8:47am
It’s amazing how you can make numbers say anything you want to.

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Beachbaby
Posted on March 8, 2013 at 8:47am
Too bad people believe these numbers. All lies. Duh I thought Beck was smarter than that. Printing propaganda for Obamas. Its as bad as watching Republicans every day acting SHOCKED over realizing they are useless. Why DO Repubs. associate with Dems? Its disgusting. vile. Satanic. All are freeloaders and thieves. Rapists and whoremongers. Especially the thugs in colorado.

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JonSigMan
Posted on March 8, 2013 at 8:47am
Yep, smells of fish…..

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Tom K
Posted on March 8, 2013 at 8:47am
A huge number of Americans that have been unemployed a long period of time AND many Americans that have given up and are no longer seeking employment are NOT COUNTED AT ALL, as if they did not matter. The real Unemployment Rate is about 13% to 16 % of the work force.

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Southernsoul
Posted on March 8, 2013 at 8:46am
Sure it did. This has nothing to do with businesses closing and reducing the amount of jobs to be had, or so many people running out of their 99 weeks of unemployment. Why even use the U3 number, its meaningless. Try the U6 and see what the story is. As of February 2013 its 14.3%.

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- Outlaw_Josey_Wales
  Posted on March 8, 2013 at 10:39am
  Government number are bogus
  
  October, 2009
  Unemployment (U-3) 10.1%
  Workforce participation rate 65%
  Food Stamp Recipients 34 million
  
  March, 2013
  Unemployment (U-3) 7.7%
  Workforce participation rate 63.5%
  Food Stamp Recipients 47 million
  
  The unemployment rate don’t support the data. Unemployment rate down, workforce participation rate down, while food stamp recipients up by 13 million.
  
  Report this comment
Hadituptohere
Posted on March 8, 2013 at 8:41am
yeah riigghhtt…Hey buddy wanna buy a bridge?? It has really low mileage on it…..

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- dublinthewagons
  Posted on March 8, 2013 at 9:03am
  Dear HADITUPTOHERE: I am very interested in purchasing your bridge. All I have for a down payment is food stamps and toilet paper (obma money). Can I make payments thru my local bloodbank.
  My new job is part time giving blood, but it’s steady employment. Please advise me if this arrangement is satisfactory. Otherwise I will buy a Chevy volt, as I have been approved by GMAC
  
  Report this comment
TheEndIsComing
Posted on March 8, 2013 at 8:41am
I’m not sure why people act like these numbers are some kind of miracle that mean everything is going to be ok. We still live beyond our means. There are more takers than makers. Until that problem is fixed, we are in deep doo doo and going deeper every day.

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- Gonzo
  Posted on March 8, 2013 at 8:48am
  It’s a house of cards built on the funny money The Fed is printing…what could go wrong?
  
  Report this comment
Gonzo
Posted on March 8, 2013 at 8:39am
This would be great news…if I trusted the numbers.

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- sparkyrules
  Posted on March 8, 2013 at 8:44am
  Lots of minimum wage, temporary, and seasonal jobs out there. Wow.,what a wonderful Obama World.
  
  Report this comment
- Fubared
  Posted on March 8, 2013 at 8:45am
  Exactly. How often do they get massaged up later…
  
  Report this comment
- Ben__Franklin
  Posted on March 8, 2013 at 9:06am
  There is jobs a plenty in Obama’s world. People coming out of college cannot find employment. Experienced people who have degrees that were laid off are taking those entry level positions with less than entry level pay and benefits because its an employer market.
  
  Obama care is making part time jobs skyrocket. Companies like Walmart have already reduced their full time staff to part time staff at less than 28 hours a week to avoid covering insurance. To make up the reduced hours per employee, these companies hire more part timers. A lot of this group now has to find additional work to cover their cost of living. Of course they can get more part time work at McDonald’s or Wendy’s – hey now we can count them again as employed X2 – just like people who voted X2 for Obama.
  
  Report this comment
- cbrown
  Posted on March 8, 2013 at 12:40pm
  Forget liberal vs conservative, and focus on what is right for America, We have to believe in our institution regardless of who is our President. That is one of greatness of America compared to other countries.
  
  Economy is growing faster than last year and prediction is a strong 4th quarter. At some point numbers should drive your thinking.
  
  Report this comment
- ihasa
  Posted on March 8, 2013 at 6:01pm
  CBROWN… At last… some common sense!
  
  We all wish the recovery would be faster and stronger, but the direction of travel is good, even if you allow for some probable massaging of statistics. It could be a lot worse…just look at Europe.
  
  Report this comment
- ihasa
  Posted on March 8, 2013 at 6:03pm
  …for some massaging of statistics. Things could be a lot worse -look at Europe.
  
  Report this comment

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