The BLS released its employment report for February this morning:
Nonfarm payroll employment increased by 192,000 in February, and the unemployment rate was little changed at 8.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing.
Here’s a bit of detail on the change in payroll employment (figures in thousands):
The private sector is doing okay. Not great, but okay. But state and local government cutbacks in spending are doing a pretty good job in making a noticeable dent in the recovery of the US job market. Headwinds indeed.