On the surface, the good news is that approximately 441,000 jobs were added last month, but delving deeper into the numbers, about 10% of those jobs came from private sector hiring. 411,000 jobs came from temporary Government census hiring. Markets have plunged due to these weak numbers and fears that the recession will continue.
source: NY Times
Prediction: The jobs numbers will dramatically increase over the course of the year. For President Obama, it is probably to little too late, the markets will rally in coming months as the Republican party will dramatically gain seats in the House and Senate due to the President's failed economic policies.