Unemployment rate drops as cuts loom
WASHINGTON—The Labor Department’s monthly jobs report is out with good news.
In February, employers created almost twice as many jobs as the month before.
Both sides seem hopeful this direct contact will be effective with the president on one side, Republicans on the other and Americans in the middle.
The Labor Department’s jobs report for February dropped the nation’s unemployment rate to 7.7 percent, which is a four-year low.
Officials say wages went up and the report recorded 236,000 jobs were created, which was better than expected.
The construction industry also had its best month in six years.
Jared Bernstein, with the Center on Budget and Policy Priorities, said, “This is a strong report. I mean, yes you can find the decline in labor force. Okay, that’s not so good but everything else looks very good and I expect the markets to really hug this one.”
Government workers are still worried about the sequester cuts.
Border patrol just sent out 60,000 furlough notices and Nebraska workers are waiting for the impact of the budget cuts.
President Obama is reaching out one-on-one to Republicans, with whom he will meet next week on Capitol Hill.
John Boehner, Speaker of the House, said, “I’m hopeful that something will come out of it but if the president continues to insist on tax hikes, I don’t think we’re going to get very far.”
Americans are not patient.
Kris Wilner said, “Compromise, meet in the middle, make it happen, get it done.”
The next budget crisis is less than three weeks away.
The House passed its budget Wednesday and the Senate is scheduled to release its budget next week.