After the announcement [Friday] morning by the Bureau of Labor Statistics (BLS) that the 175k increase in Non-Farm Payrolls (NFP) exceeded expectations by 30k, the blame-it-on-the-weather excuse hasn’t gotten much of a mention. Maybe it should. Despite the higher than expected number of new jobs, February’s performance was still well below the 189k average over the last twelve months. The number of unemployed persons increased by 223k and the Unemployment Rate rose by a tenth to 6.7%. In what might pass for relatively good news, neither the Employment-Population Ratio (58.8%), nor the Labor Force Participation Rate (63%) went down. Spring is in the air!... Read more in the Baker Market Update.