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.
Zelensky under heavy pressure to fire Ukrainian ‘co-president’ Andriy Yermak after corruption scandal
House Dem slammed for ‘sick’ defense of colleague caught texting Epstein during 2019 hearing
DHS launching massive immigration operation in Louisiana, Mississippi: ‘Swamp Sweep’
Illegal immigrant accused of grabbing ICE officer’s taser while shouting ‘Allahu akbar’ during arrest
Trump fetes Saudi crown prince with pseudo-state dinner attended by Cristiano Ronaldo
Thune fields Senate GOP backlash over ‘Arctic Frost’ surveillance provision
Federal prosecutors charge suspect who allegedly vandalized US Attorney Alina Habba’s office
Letitia James and Lisa Cook lawyer pushes back on mortgage fraud allegations
Trump calls for federal AI standards, end to state ‘patchwork’ regulations ‘threatening’ economic growth
Mother and Son Hospitalized After Being Viciously Attacked by a Mob of Elementary School Students
Six Democrats urge military members to ‘refuse illegal orders’ in viral video; Hegseth responds
The Weaponry of Words: What Israel vs. Hamas Taught Us About the Fight for Truth
Trump Seeks to Take ‘Fat, Rich Insurance Companies’ Out of the Equation as He Lays Out ‘the Only’ Healthcare Plan He Will ‘Approve’
House Democrats in Turmoil as Allegations of Lying and ‘Election Subversion’ Fly: Report
Trump Gives McDonald’s Owners Advice on How to Improve His Favorite Menu Item
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.
