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.
Many RNC Convention Attendees Balked at Trump’s Plan to Cut $5K Checks for Americans
Tucker Carlson Defends El-Sayed on 9/11, Condemns His GOP Opponent Mike Rogers
Smithsonian’s dark take on America exposed: Washington dubbed ‘town destroyer,’ Revolutionary War ‘dangerous’
Alito, Thomas shred ‘Hail Mary’ challenge to federal ballot mail rules in dissent
Surrogate who refused abortion asks SCOTUS to intervene as baby could be moved out of Texas
Georgia mayor, 23, ousted 10 months after making history as state’s youngest mayor
Republicans Attack GOP Candidate for Pointing Out How Many Foreign Students Attended Texas-Ohio State Game
Breaking: SCOTUS Blocks Trump’s Mail-in Ballot Restrictions Months Before Midterms
‘Trojan horses’ in America: Congress probes influence networks tied to China, Iran and Cuba
House Dems face Trump tariff dilemma as major Russia sanctions bill heads to floor
Supreme Court rejects Trump bid to revive strict mail-ballot rules before midterms
Trump Gives Huge Update on Russia-Ukraine War That Could Ease Pain at the Gas Pumps
Mamdani blasts feds for waging ‘campaign of violence and terror’ against NYC’s immigrants
House unanimously votes to eliminate 1-cent coin permanently
GOP Gov. Candidate Forced to Swim for His Life After Plane Crash – Reporter Says Water Was ‘Only 30 Feet’ Deep
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.
