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-- Brad Delong

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Friday, March 9, 2012

Recovery Continues at a Ho-Hum Pace

The economy added 227,000 jobs in February.  The overall unemployment rate stayed at 8.3%.

As good news goes, this is pretty weak, but at least it isn't bad news.

This number would have been only average during the Clinton administration, when times were good.  The numbers ought to be much better than that during a recovery.  But we don't have recoveries any more.  This number is not a lot more than what it takes to keep up with population growth.

So, yeah, the economy is growing.  But it's not growing fast enough to do a lot of good, especially when every nickle of income growth goes to the top 50% of the population.

Here's the chart, for the private sector only, from Maddowblog.  OK news.  Nothing exciting.

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