February was yet another stellar month for the U.S. economy. The unemployment rate dropped to 3.8 percent, the number of employed Americans once again reached an all-time high and wages continued to increase sharply.
Yet, House Speaker Nancy Pelosi issued a statement claiming that “February's abysmal jobs numbers are a stark warning from an economy being hollowed out by the GOP's devastating special interest agenda.” Her statement is a perfect example of what happens when a politician focuses on a single metric as the means to garner a political advantage. In reality, even though the labor market added fewer jobs than expected last month, the Bureau of Labor Statistics' (BLS) report indicates that – for American workers – the economy is still roaring.
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