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.
Arizona man accused of plotting mass casualty attack on religious site with ‘cookbook’ tied to OKC bombing
Massachusetts GOP ticket rocked by alleged drunken crash as candidate abruptly halts campaign
Trump unveils plan to transform historic DC golf course as judge tees off
How 1 Single Gun Magazine Could Soon Lead SCOTUS to Upend How Judges Sentence Criminals
Trump Officials May Soon Unleash Blacklisted Tankers to Cut Record Shipping Costs
New Jersey City’s Firearm Permitting Process Is so ‘Egregious’ the Trump DOJ Is Now Launching an Investigation: Report
Heroic Taco Bell Worker Thwarts Would-Be Mass Shooter Who Targeted Place of Worship: Report
Driver released without charges after pickup kills boy, 6, and man on Kansas soccer field
What to know about the Alberta referendum on leaving Canada
Photos show aftermath of riots as masked groups clash with police across France
Pro-Israel leader warns Democrats failing to condemn ‘vicious Jew haters’ in Congress
Slotkin wants GOP prosecutions to deter young people from Trump administration jobs
Trump says Netanyahu needs to be re-elected, or else US will have to ‘finish the job’ against Iran alone
Brother of possible OJ Simpson accomplice claims he returned with bloody hands on night of murders: report
Obama backs Ilhan Omar amid probe, accuses Trump admin of ‘appalling’ targeting in lengthy statement
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.
