We should rejoice with strong domestic and European developments.
Today's employment report from the Bureau of Labor Statistics is excellent:
http://stats.bls.gov/news.release/empsit.nr0.htm
Our economy added 227,000 jobs in February and the unemployment rate held steady.
Look at the chart and you can see that this is the kind of number associated with economic expansion. For three months job gains have been over 200,000.
Job Growth
(Click on chart to enlarge)
(Recessions shaded)
And today's headlines in The New York Times and The Wall Street Journal report important progress - a milestone - in resolving the Greek debt crisis.
http://www.nytimes.com/2012/03/09/business/global/deadline-nears-for-greek-bond-swap.html?_r=1&ref=todayspaper
http://online.wsj.com/article/SB10001424052970203961204577269643946192330.html?mod=ITP_pageone_0
The vast majority of Greek-debt holders have agreed to accept losses as part of an overall settlement of the Greek financial crisis. Technically that's a default, but it's a sign of order instead of the chaos.
Europe is taking care of business.
Let's hope the coming months continue to bring good news.
(To be fully informed visit http://www.beyourowneconomist.com/)
© 2012 Michael B. Lehman
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