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.
Two arrested at Costco after alleged fraudulent credit card shopping spree
Russian missile attack on Kyiv collapses apartment building, trapping residents
Wild video captures apartment complex electrical room explosion as firefighters investigate smoke call
Two People Climb to the Top of Empire State Building Antenna, Fly Banner with Message
Coalition of 25 states sues Trump admin over Medicaid work rule designed to prevent fraud
Internal emails expose how July 4th bash is being derailed by Dem-run county: ‘Offensive’
Michelle Obama Went ‘Absolutely Ballistic’ and Blocked RFK Jr.’s Wife Cheryl Hines from Appearing in New Show: Report
Walz, Minnesota Board of Pardons clears convicted illegal alien child sex offender facing deportation
Trump Takes First Flight on New Air Force One: ‘Nobody’s Ever Seen Anything Like It’
Kamala Harris Privately Consulting with Zohran Mamdani and Other Radical Leftists as She Maneuvers for 2028: Report
ICE surges enforcement, makes 10,000 arrests in five days amid Supreme Court birthright citizenship decision
McConnell was found ‘unconscious’ in home last month as condition remains unknown
Congressman Gets Mixed Response After Explaining Why He Disappeared for Four Months
Fox News Poll: A close Senate contest is brewing in Iowa
SEE IT: Trump rides Freedom Train to Theodore Roosevelt Presidential Library ahead of grand opening
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.
