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March 6, 2015

February Jobs Report: First Impressions

In yet another installment of the solid jobs reports we seen in recent months, February's payrolls were up by 295,000 and the unemployment rate ticked from 5.7 percent to 5.5 percent, the lowest it has been since mid-2008, according to this morning's job market update from the Bureau of Labor Statistics (BLS). Still, while there's no doubt the labor market is improving, and doing so at a faster clip than in recent years, there are still missing ingredients suggesting that the US job market is not as close to full employment -- a truly tight matchup between jobs and job-seekers -- as the low jobless rate suggests.

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