243,000 jobs created, but are the gains real?

9f86d51ce2814b4641e98b3a93ca02f4

As the 2012 elections continue to ramp up, President Obama finally got some good news.

On Friday, The Labor Department estimated on Friday that the economy gained 243,000 jobs and that unemployment has dropped to 8.3% (the lowest since February 2009).

Not only has the unemployment rate made a significant drop, but hourly pay has also increased. According to The Atlantic, manufacturing added 50,000 workers, its second biggest monthly gain since the 1990s. And what’s more, unemployment rates dropped for those people who never attended college dropping from 13.8% to 13.1%.

And it gets better, still! Job creation appears to be accelerating at an impressive rate. In November 157,000 jobs were added, in December 203,000, and finally, in January 243,000 according to the payroll survey.

Despite the sorry summer of 2011, the economy boasted an added 1.95 million jobs within the last 12 months — the best figure in the past five years.

The household survey, conducted by the Bureau of Labor Statistics, was even more optimistic, putting employment growth at 631,000 for January.

But could this news be too good to be true?

Well, yes and no.

While the department has reported the 243,000 job gain it has also been estimated that the economy lost 2,689,000 jobs in the month of January, as temporary Christmas jobs end. So, does this mean the numbers are no longer credible? Or at the very least overstated?
 

The New York Times reports that it appears the good news is real and that the economy is indeed gaining momentum, even if the January gain does turn out to be overstated.


News
Entertainment
Sports
Lifestyle
News

Boston Marathon 2014 on high alert, Red Sox…

One year on from the horrific Boston Marathon bombings a ring of steel has been thrown around today's race, and a city stands defiant against…

News

Boston Strong: One year on from Boston Marathon…

  For more than a century the Boston Marathon has been an even centred around sportsmanship, endurance and athleticism, but there's no denying the face…

Local

Hillary Clinton headed to Boston for women's leadership…

Former U.S. Senator and Secretary of State Hillary Clinton is set to visit Massachusetts Wednesday amid continuing speculation about making another bid for the presidency in 2016.

Local

Boston Marathon: Marathoners ready to run, honor victims

Scores of runners will cross the Boston Marathon starting line in Hopkinton Monday and embark on a 26.2-mile journey to Boston in honor of the victims.

Television

‘Mad Men’ recap: Season 7, Episode 2, ‘A…

Peggy and Lou are horrible, Bert's racist, Don is honest(ish) and Roger and Pete are frustrated. "A Day's Work" not quite worthy of "This Will Be Our Year."

Television

'Game of Thrones' recap: Season 4, Episode 3,…

The problem with the devil you know is that ignoring them doesn’t mean they simply lie in wait. It allows them time to do things…

Television

Discovery cancels 'Everest Jump Live' special in wake…

The Discovery Channel has indicated it will not be moving forward with "Everest Jump Live," a planned special about mountain climber Joby Ogwyn's effort to…

The Word

'X-Men' director Bryan Singer drama continues

  News broke late last week that "X-Men" and "The Usual Suspects" director Bryan Singer is being sued by a man who said Singer molested…

MLB

MLB video highlights: Red Sox walk off with…

Red Sox pick up first walk off win of 2014

MLB

Red Sox and Orioles meet Monday morning at…

Red Sox and Orioles meet Monday morning at 11 a.m.

NHL

NHL video highlights: Bruins smack down Red Wings…

NHL video highlights: Bruins smack down Red Wings in Game 2

MLB

MLB video highlights: Red Sox defeat Orioles, 4-2

Brock Holt the difference in the Red Sox' win

Travel

Packing: The one thing you need in your…

A new survey that looks at the travel habits of 50,000 people around the world has revealed that Western and Asian globetrotters have different priorities…

Home

Is your chair making it hard to talk?

Ever wished there was an office chair that could make impromptu meetings and discussions more private? The Cristiana Wing Chair is an asymmetrical armchair which…

Travel

Live large at these luxury hotels

From Thai boxing lessons and macabre Dracula tours to the Australian Outback, the Four Seasons hotel chain launched a series of new travel packages this…

Parenting

4 things that every summer camp should have

Alan Saltz, director of the 92nd street Y program lists things that every summer camp should have.