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.
NYC health officials warn Central Park visitors after Legionnaires’ outbreak grows on Upper East Side
Pilot declares mayday before seaplane comes down in New York City’s East River
Toddler declared dead after near-drowning was found alive in hospital morgue hours later, police say
Michigan Democrat Mallory McMorrow drops out of Senate race weeks before primary
NYPD detective, children shot in separate Brooklyn shootings over holiday weekend
Iranians call for Trump’s death at funeral for assassinated ayatollah: ‘Seek revenge’
Trump shares news of ‘crystal clear’ Reflecting Pool, calls for vandalism suspect’s arrest
Bill Clinton blasts Trump as Americans mark nation’s 250th anniversary
Watch: UK Police Do It Again, Attack White Kid for Crime of Being Slammed on Ground by Black Kid
Watch a Gun-Range Officer Halt Some Hollywood Antics on the Spot
Here Are The Voters Backing Democratic Socialists
California Man Pleads Guilty to Harassing Guthrie Family With Fake Ransom Notes
Newsom blames Trump for DOJ probe, but reports say investigation predates his administration
Samuel Alito Warns Mail-In-Ballot Ruling Leaves Giant Opening For Voter Fraud
‘He Came And Stab Me’: Food Truck Pirates Turn National Mall Into A Lawless Mess
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.
