Report of USA Today cited that the US economy had regained back its traction after two months of lackluster performance. For the month of February, there are 175,000 jobs added to the US economy as businesses thrive amidst the economic difficulties. However, the unemployment rate rose from 6.6% last month to 6.7% for this month. Increased unemployment rate is the result of enthuasiasm of individuals to look for work again. (Those who don't look for work even if they are unemployed are not considered as part of the present workforce.)
Nonetheless, with this report of rebounding economic situation, the stock market received immediate impact with the appreciation of stocks. With new jobs created, this means that employers are seeing a better future ahead and the need to increase productivity through expansion of human assets.
Sectors with the added employment include: healthcare, education, professional and business services. Together these sectors contributed 162,000 new jobs, while the federal and state governments hired 13,000 employees. Another new better foresight is the addition of 24,000 temporary employees, which are considered by companies to permanency.
While this progress is a welcome one, there are also several factors to consider. There are still thousand employees who work as part-time, but are looking for possible full time jobs. While those who are not looking for work anymore also rose up from 12.7% to 12.6%.
