sequester has really been a nonevent with respect to the financial markets. businesses are plowing ahead. and i think a lot of the dire forecasts that cutting government spending was going to hurt the economy, at least look, it just started, we ve only had it for a week or two. but i was one of the people who said look, this might actually be a positive thing for the economy in terms of giving business some assurance that at least washington will start cutting somewhere. let s look at, let s look behind the numbers on the jobs report. christine romans is the host of your bottom line. i often say there sed good, the bad, the ugly in the jobs numbers, this time let s say it s the great, the good, and the ugly. let s look at the great first. when you look within the private sector hiring is 36 months in a row of private sector job creation. 36 months. that s what we want to see. companies, confident and in deploying their assets by hiring people. where are they hiring? business serv
market there were some construction jobs earlier in maybe last year, probably because of hurricane sandy rebuilding. now you re seeing help from construction because of housing and health care. 32,000 jobs in health care. we ve seen that again and again and again. there are two economies in america. one of them is health. the health care economy and the other economy is the one the rest of us live in. the ugly. 133,000 people dropped out of the labor market. they couldn t, there wasn t a place for them. they simply stopped looking. you look at the labor force participation rate this is something that s a number that s still so troubling. 63.5%, the lowest since july 2012. to get worse than that, you go the to go back to september of 1981. you want to see the number getting bigger as more people come back in and feel like the economy getting better and there s a place for them in the economy. let me bring in a chief economist for mesereau financial. christine laid out the things we kn