Another sign of improvement

March 4, 2011 2:03:00 PM PST
It doesn't appear to be getting worse.

That pretty much sums up the economy after the February jobs report showed a private-sector gain of 192,000.

That's the most jobs created in more than a year, but it's offset by a lower-than-expected 60,000 or so new jobs in January, when snowstorms stalled the economy and hiring.

But there are signs that the economy might have turned a corner. Unemployment claims are dropping (how many are from people who simply stopped looking, however?); the stock market is, except for today, rebounding; and real estate prices in some big cities are inching back up.

Politics as usual in Washington over these numbers. House Speaker John Boehner blames Pres. Obama for the jobless levels, calling the White House strategy for rebooting the economy a "spending binge."

His predecessor, Minority Leader Nancy Pelosi - shocker - comes in on the other side by touting the jobs report as a sign the economy is moving in the right direction.

It's just too bad politics has to determine people's perspective. As ridiculous as that might sound!

Meanwhile, the rising price of oil is impacting the economy. Just about every consumer product is dependent on oil and gas. And so the rising prices of goods, as suppliers and merchants pass on their rising transportation costs, means that Americans spend more money that doesn't help the economy. Just the oil companies. Charming.

Airlines are also raising their prices, and tonight at 11, we look at how the upcoming spring travel season will be impacted by that.

Also at 11, and speaking of transportation, if you take the New York Subway this weekend, get ready for some major inconveniences. Up to 15 lines will be disrupted by repairs and construction.

And Nina Pineda tonight has the story of a young man from Brooklyn who planned to renovate his home. Planned is the operative word here, because the architect he hired - and gave tens of thousands of dollars to (his life savings) - just took the money and didn't deliver. The man called Nina for help, and got 7 On Your Side.

We'll also have any breaking news of the night, plus Lee Goldberg's weekend AccuWeather forecast, and Rob Powers with the night's sports. I hope you can join Liz Cho and me, tonight at 11, right after 20/20.


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