|Cumulative Percentage Point Change in Employment and Unemployment Rates From June 2009 to Feb 2012|
The Labor Department reported that employers added 227,000 jobs in February. With upward revisions to the prior two months’ data, average job growth over the last three months is now reported as 244,000. Employment growth continues to be concentrated among older workers, with people over age 55 accounting for 277,000 of the 428,000 growth in employment reported in February in the household survey. By education level, college grads were the big winners with their EPOP jumping by 0.7 percentage points, although most of this was reversing an erratic drop of 0.5 percentage points reported in January. The EPOP for high school grads fell by 0.5 percentage points to 54.1 percent, a new low for the downturn. Most likely this is also an anomaly.
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