The great American jobs creation machine is firing on all cylinders, with February’s jobs figures showing far more strength than expected and both January and December being raised higher than previously reported.
The U.S. economy added 273,000 jobs in February and the unemployment rate ticked down to 3.5 percent, the government said Friday.
Economists had forecast 175,000 nonfarm payroll growth and the unemployment rate to tick down slightly to 3.5 percent from 3.6 percent the prior month.
Average hourly earnings were up by 3 percent compared with a year ago. The average workweek climbed a bit to 34.4 hours.
Iran Attempts to Take Credit for Downing US Aircraft, Killing Airmen, Then Fakes Evidence in Profoundly Slipshod Way
Trump-backed Potomac sewage cleanup complete after massive spill ahead of summer America250 celebrations
Nepo-Baby Nazi-Tattooed Dem Senate Candidate Decries ‘Anti-Semitism,’ Claims ‘Anti-Trans’ Agenda Cooked Up By ‘Billionaires’
Obama Presidential Center wants 100 unpaid volunteers while Valerie Jarrett makes $740K
Jasmine Crockett’s alleged security guard killed in standoff with Dallas SWAT team: reports
Legal Group Files Challenge to Virginia Abortion Ballot Push
Op-Ed: This Video from the Church of England Will Make You Proud of Your Christian Heritage
Iran faces financial death blow because of war
Virginia Democrats dig in on DHS funding line despite ISIS-linked shooting at ODU, illegal immigrant murder
Red States Offer Low Housing Prices as Yet Another Draw for Families
Ex-Dem senator admits to affair with former bodyguard in explosive court filing: ‘Romantic and Intimate’
The Economist Blasted with Flurry of Posts for Bemoaning Death of Murderous Ayatollah
Dems continue to reject GOP efforts to fund ICE in DHS fight despite terror concerns: ‘That’s on them’
Trump’s demand for colleges nationwide to fork over race data faces legal hurdle
State Department cuts fee to renounce US citizenship by 80% to $450
December’s estimate of payroll growth was revised upward by 37,000 to 184,000. January’s number was revised up by 48,000 to 273,000. That adds a total of 85,000 more jobs than had previously been reported putting the three-month moving average at 243,000 jobs
The labor market has been a bright spot for the American economy in recent months, with unemployment at or near 50-year lows and the economy continuing to add hundreds of thousands of jobs month after month. The strength of the labor market has boosted consumer sentiment and consumer spending, keeping the pace of economic growth stronger than in many of the other major economies around the world.
The coronavirus is widely expected to slow economic growth this year, although the impact may be short-lived if the outbreak is contained or fizzles out after a few months. The Labor Department said there was no sign that the outbreak had hurt employment in February. The strength of the labor market, however, may bolster the economy’s ability to withstand the pressure.
Story cited here.
