The jobs report that came out last week was another month of good news. The private sector added 227,000 new jobs. We have now seen job growth every month for over a year a now. Although the unemployment rate stayed constant at 8.3% it is still good news. For the first time in months the economy actually saw an increase of people entering into the workforce. Around 500,000 people began looking for work, which means confidence in the economy is increasing. So the fact the unemployment rate remains unchanged is not a negative.
For months now skeptics of the recovery have claimed the unemployment rate has only been going down because many workers quit searching for jobs (partially true), which means they are not counted in the unemployment numbers. This is not true for this report. The good news should not hide the fact the economy is still fragile and the recovery still has a long way to go; we seem to be on the right track though. A couple more months of reports like these should solidify this recovery as an actual recovery and not just an accounting trick.