Skip to main content
Advertising

Originally published Friday, March 7, 2014 at 5:12 PM

  • Share:
           
  • Comments (0)
  • Print

Robust job growth in February despite harsh weather

The U.S. economy created more jobs in February than in the previous two months, raising hopes that momentum in the labor market would pick up.


The Associated Press

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

WASHINGTON — Brutal winter weather snarled traffic, canceled flights and cut power to homes and factories in February. Yet it didn’t faze U.S. employers, who added 175,000 jobs, far more than the two previous months.

Modest but steady job growth has become a hallmark of a nearly 5-year-old economic rebound that remains sluggish yet strikingly resilient. The economy has been slowed by political gridlock, harsh weather and global crises. But those disruptions have not derailed growth.

Though the unemployment rate rose to 6.7 percent from a five-year low of 6.6 percent, it did so for an encouraging reason: More people began seeking work. The unemployment rate ticked up because most did not immediately find jobs.

Friday’s report from the Labor Department suggested that a long-hoped-for acceleration in growth and hiring still has not occurred. But that might not be all bad: Households have pared debt and avoided the excessive spending and borrowing that have undercut explosive economies in the past.

Total U.S. credit-card debt is still 14 percent lower than before the Great Recession began in December 2007, according to the Federal Reserve.

And moderate but consistent hiring still means more people have money to spend.

“A modest expansion may very well last longer than one that bursts out with big increases in spending and debt,” said David Berson, an economist at Nationwide Financial.

Some economists also suggested that having endured harsh weather, the economy may be poised to pick up soon.

“If not for poor weather conditions, job growth would have been stronger,” said Michelle Meyer, an economist at Bank of America Merrill Lynch.

The figures were a welcome surprise after recent economic data showed that severe weather had closed factories, lowered auto sales and slowed home purchases. Along with a sharp increase in wages last month, the jobs report indicated confidence among some employers that consumer spending will increase in the near future.



Want unlimited access to seattletimes.com? Subscribe now!

News where, when and how you want it

Email Icon

Meet the winemakers

Meet the winemakers

View video interviews, conducted by The Seattle Times wine writer Andy Perdue, profiling five of our state's top winemakers.

Advertising

Advertising


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►