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.
LA Residents Still Battling Toxic Hazards in the Aftermath of Last January’s Devastating Wildfires
Chinese Communist Party Rounds Up Members of Underground Christian Church in Crackdown
Federal judge blocks Trump administration from enforcing mail-in voting rules in executive order
Obama Presidential Center slammed for promoting ‘far-left’ agenda on public land
Police Department Uses AI to Write Reports, Only to Have it Claim One of the Officers Was Turned Into a Frog
Blackstone Stock Nosedives After Trump Announces Plan to Ban Major Investors from Buying Up Single-Family Homes
Trump responds to post suggesting Rubio as president of Cuba: ‘Sounds good to me’
Somali Maine city councilor resigns days after taking office after felony charge, residency questions
Ex-con charged in Christmas Day CVS robbery that left clerk fatally stabbed
Rob Schneider Goes Off on Minneapolis Mayor for Fanning Flames After ICE Shooting
NASA makes ‘unprecedented’ call to bring astronauts home after illness, expert says: ‘Evacuated from orbit’
How One Trump Admin Arrest May Soon Refill the Strategic Oil Reserves Biden Drained
Left-wing group backs tens of thousands of anti-ICE demonstrations nationwide
Lib Reporter Faces Subpoena After Doxxing Delta Force Commander Over Maduro Capture
Charlie’s Legacy: Ex-Playboy Playmate Jenny McCarthy Has ‘Surrendered’ to Jesus, Says Kirk’s Death Immediately Drove Her to Start Studying the Bible
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.
