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.
Woke language overhaul would strip the word ‘inmate’ from New York City’s entire jail rulebook
FBI alleges suspect ‘deployed an incendiary device outside’ federal building
NORAD Fighter Jets Intercept Multiple Aircraft Infringing on Restricted U.S. Airspace
Minnesota’s Biggest Paper Cheers Tim Walz For Pardoning Child Rapist, Says He Was Justified Because of Jan 6
Socialist-backed Michigan Senate hopeful calls American politics a ‘disease’ after professing love for US
Anti-ICE walkout exposes how school district ‘failed’ parents, risked student safety: ‘Broken my trust’
RNC trolls DNC, Maine Democratic Party in letter offering to help restore trust, ‘defend democracy’
Nurses and teachers unions bankroll leftist candidates and causes
2 Colombian nationals arrested in stolen Mercedes linked to violent California carjacking
NORAD F-16s intercept multiple aircraft violating temporary flight restrictions over New Jersey
Platner ally Troy Jackson locks down delegates as top rivals for Democratic Senate nomination drop out
Young airman killed in heavy equipment accident at California Space Force base
Mass shooting rocks crowded downtown Tucson district, leaving 10 wounded
JD Vance and wife Usha welcome fourth child, reveal baby boy’s name
AOC accused of putting on new accent during Memphis rally: ‘Going full Kamala’
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.
