In February, the U.S. labor market did not lay the foundation for long-term economic growth. Sure, the banner numbers -- the U-3 measure of unemployment and the number of jobs added -- continued to indicate that the American economy is expanding. Here's what the Bureau of Labor Statistics reported: "Total nonfarm payroll employment increased by 295,000 in February, and the unemployment rate edged down to 5.5 percent ... Job gains occurred in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing." The better measure of unemployment, the U-6, edged down to 11% and the civilian labor force participation rate changed little at 62.8%. But troubling is where most of the job gains occurred. Jobs in the food service and drinking industries don't contribute to long-term growth -- they are as permanent as a burger with a side of fries. More...