Can our growth survive the sequester?

Payrolls expanded by 236,000 last month and the jobless rate ticked down to 7.7%, its lowest rate since late 2008, outperforming analysts expectations.  Hours worked per week increased and hourly pay rose as well, suggesting a potential improvement in employer demand (though, as noted, some indicators in the report point the other way—these monthly reports are never an analytical slamdunk).