The unemployment rate dropped to 7.7 percent in February, surprising many economists who believed that the drop in jobless numbers would be slower. The economy created over 236,000 jobs, well over the predicted 160,000.

“The economy has now added private sector jobs every month for three straight years, and a total of 6.35 million jobs have been added over that period,” Alan Krueger, the Chairman of the Council of Economic Advisers, wrote on the White House blog.

The Bureau of Labor Statistics reports that of the 236,000 jobs added; 73,000 were in professional and business services; 48,000 were in construction; 32,000 were in health care; 24,000 were in leisure and hospitality, 23,700 were in retail trade; and 14,000 were in manufacturing.

“The manufacturing sector has added over half a million jobs over the last 37 months, the most for any such period since 1986,” Krueger wrote. “In the last two years the construction sector has added 306,000 jobs, with half of that increase occurring in the last five months.”

Today’s numbers arrive less than a week after the Dow Jones industrial average rose to record-levels when not adjusted for inflation.

Yet not all news is good news. State and local governments lost 10,000 jobs predominantly in education. 340,700 local education jobs have been lost since November 2009. More cuts are also on the way. The sequester budget cuts are expected to slash 750,000 jobs if the full extent of the sequester is felt throughout the entire year.

The monthly employment numbers are subject to change each month. The Bureau of Labor Statistics estimated that 157,000 jobs were created in December. That number has since been revised to 219,000. The numbers are also heavily affected by education levels. The jobless rate is 11.2 percent for people without a high school diploma, 7.9 for those with a high school education, and 3.8 for those with a bachelor’s degree. Many college graduates still find themselves working jobs for which their degree was unnecessary.

The new unemployment rate is the lowest since December 2008. The White House takes this as a sign that the recovery that began in 2009 is gaining traction.

Republicans still maintain that the unemployment numbers are higher than expected:

Positive news in today’s jobs report but unemployment still far above what @whitehouse projected w/its ‘stimulus’ j.mp/Zlwj9f — Speaker John Boehner (@SpeakerBoehner) March 8, 2013

It remains to be seen whether the sequester job losses will begin to outpace the steady rate of job growth in the months ahead.

Unemployment Rate Drops To 7.7 Percent is a post from: The Inquisitr

A hiring boom is expected for 2013, but economists are torn on how much of a recovery the job market will see in the coming year and when exactly it will take place.

Most career counselors agree that hiring will pick up in the New Year, though some believe a still-weak economy will make the job growth slower and put a damper on an expected hiring boom in 2013, US News and World Reports noted.

Job growth has been better than expected in the past month. The economy added 146,000 jobs in November, more than the 85,000 economists had expected.

Robert Meier, president of Job Market Experts, a Florida-based firm that helps match job seekers with openings, told US News and World Reports that many employers are spending this period preparing for a hiring boom in 2013

“Historically, the first quarter of any fiscal year is always the best time to expect hires because of the normal cycle of business,” he said. “Companies are kind of lying low, but now is the time when they do the talent evaluation. If you can get into the evaluation cycle, you have a good chance of getting hired.”

But many believe a hiring boom in 2013 will be dampened by the threat of a fall off the “fiscal cliff.” The tax implications are not yet known, and may not be for some months, conditions that some believe will cause hiccups in hiring.

Worlwide, a rise in technology and high-tech fields is expected to bring a hiring boom in 2013 as well. The Telegraph, a UK-based newspaper, noted that the boom in smart phones and mobile device apps has brought about a need for more high-tech workers, a trend that has also been seen in the United States.

Hiring Boom 2013: Employers Set To Make Big Gains In New Year, But Uncertainty Remains is a post from: The Inquisitr

Wondering where you can find the best places to do business in the United States? New U.S. business city rankings released Wednesday shuffled a few standards out of their spot as other towns got a promotion.

Provo, Utah, home of Brigham Young University, rocked Raleigh, North Carolina out of its place as the best U.S. business city in the Forbes ranking. Provo is the third largest city in Utah, and is located about 40 miles south of Salt Lake City, notes Reuters. Recent and robust job growth and a low crime rate earned the city the top honor on the Forbes business banking list.

“Provo had job growth of 3 percent in 2011, which was third in the United States, and they ranked tenth-lowest in crime,” said Mike Ozanian of Forbes, adding, “Brigham Young University provides a stabilizing presence to their economy.”

The university in Provo boasts the third largest enrollment among private colleges in the country and had 13 start-ups in 2010.

Raleigh, North Carolina, has consistently been ranked in the top three of the Forbes list since 2003, but fell from its no. 1 spot because the cost of living rose 5% over the national average. Still, it maintains a top 3 spot thanks to a growing population and a projected 2.9% job growth. Fort Collins, Colorado, Des Moines, Iowa, and Denver, Colorado rounded out the top five on the list.

The Forbes list also includes the bottom 10 cities for business. Three of the bottom five are in California. Among them, Stockton, which filed for bankruptcy Tuesday.

Do you live in one of the best U.S. business cities? Do you live in one of the worst?

Best U.S. Business Cities According To Forbes: Top Spot Not Raleigh, NC Anymore is a post from: The Inquisitr

Starbucks has a new plan to stimulate job growth. The Seattle coffee company is going to start asking for donations after they ring you up for its new jobs creation program, “Jobs for USA.”

The “Jobs for USA” program will begin on November 1st. Starbucks will be collecting donations of $5 or more in order to help stimulate job growth in the United States. Starbucks said that 100% of the money raised will go to firms and organizations that can create jobs.

According to ABC, Starbucks Foundation will be giving $5 million to get the fund started. Starbucks didn’t say how much they expect to raise, but with 7,000 stores nationwide, their collection bucket will be put in front of thousands of people everyday.

Starbucks will be working with the Opportunity Finance Network in order to create more jobs around the United States. The Opportunity Finance Network works with hundreds of financial institutions that give loans to low-income communities. ABC reports that the organization, which was created 27 years ago, has created nearly 300,000 jobs through 2009.

Starbucks will be covering the administrative costs of the Opportunity Finance Network so that all of the money donated will go toward job creation.

Howard Schultz, Starbucks Corp.’s CEO, has expressed his disappointment with the US economy frequently over the last several years, and says that he feels responsible to do all he can to stimulate job growth. Starbucks is currently hiring a bout 200 employees a day as they hope to add 200 more locations in the next year.

Do you think Starbucks job creation fund will make a difference?

Starbucks Stimulating Job Growth With Customer Donations is a post from: The Inquisitr