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Friday, March 09, 2012

SBE Council Chief Economist on Latest Jobs Data

Today, Raymond J. Keating, chief economist for the Small Business & Entrepreneurship Council (SBE Council), released the following statement in response to the February employment data reported by the U.S. Bureau of Labor Statistics:

"The news on the jobs front in February was good across the board. According to the establishment survey, payrolls increased by 227,000 in February, with private sector payrolls up 233,000. That's the third straight month where payroll gains exceeded 200,000.

"The household survey, which better captures small business activity, showed employment gains of 428,000, with the labor force also increasing by 476,000. The data show solid gains for two straight months now.

"These employment gains have come in spite of fiscal and monetary policymaking that has kept uncertainty alive. Serious risks remain, including energy prices and misguided energy policies, new taxes and regulations associated with ObamaCare phasing in, European woes, looming tax increases, new regulatory threats and monetary policy risks. The path of these trends and policies all need to change to get the U.S. economy firmly on a path of solid economic growth. We need pro-entrepreneur, pro-growth tax and regulatory relief, an aggressive free trade agenda, and sound monetary policy focused on price stability."

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