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.
Maine Senate candidate Graham Platner embraces democratic socialism at Bernie Sanders rally in Portland
Jacob Frey criticized for remembering George Floyd on Memorial Day, six years after death sparked riots
Widow of ‘American Sniper’ Chris Kyle Hits Back Against Dem Senate Candidate for ‘Making Things Up’
Watch: Trump Sums Up Memorial Day Better and Quicker Than Any President in Living Memory – Just 9 Words
President Trump Explains Importance of Memorial Day in Rousing Speech: ‘The Ultimate Sacrifice’
Dem City Gave Muslim Group $35k and Didn’t Track How It Was Spent
Anti-ICE protesters clash with agents outside New Jersey detention center as Gov Sherrill denied entry
Lawmaker Convicted Under ‘Crimes Against Humanity’ Law for Writing Pro-Marriage Pamphlet
Stomach Churning: Paragliding Woman Videos Herself Plummeting After Mid-Air Crash With Plane
Trump calls on Arab nations to sign Abraham Accords
New Jersey governor, Democratic senator spend Memorial Day protesting ICE facility
Sex Trafficking: More Disastrous Graham Platner Comments Surface as Dem Buyers Regret Reaches New High
Hollywood Ignored the ‘Project Hail Mary’ Blueprint as ‘Star Wars’ Stumbles and Nolan’s ‘Odyssey’ Looks Headed for Trouble
Tim Walz’ Gun-Control Bill Goes Down In Flames Despite Dems’ Sit-In Protest
Rubio pushes back on India’s concerns over US visa curbs, says policy must be ‘America First’ under Trump
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.
