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.
WATCH: Illegal alien busted in battleground state after allegedly committing voter fraud
Two Suspects Arrested After Famous Musician and His Family Are Murdered in Mexico
Mullin asks DOJ to review voter data sharing tied to Zuckerberg-funded nonprofit group
Trump lawyers target what Letitia James won’t say about evidence in $450M case
Country Star John Rich Says Jelly Roll Knew Exactly What He Was Doing, And He Will Now Pay the Price
ICE officer pleads not guilty to lying about Minneapolis shooting involving Venezuelan man
Illinois mother charged with murder in death of 2-year-old son in case drawing comparions to Lindsay Clancy
Michael Cohen, Star Witness in Trump’s NY Conviction, Reportedly Recants Testimony: ‘He Was Pressured and Coerced’
‘Fiesta Mexicana’: El-Sayed campaign plans festive 9/11 while remembrance is missing from public schedule
The Right to a Jury of Our Peers Assumes We Still Live Among People Capable of Sound Judgment, Which We Don’t
Comer indicates McConnell staffers aiming for lawmaker to return to Senate later this month
Non-citizen police officers approved after Dem says ICE ‘invasion’ ‘sends a message’
Pelosi, Omar join Trump and Schiff as unlikely alliance pushes to onshore key industry
California congresswoman did not disclose money her husband received from nonprofit
Air traffic controllers turn on FAA chief as tensions boil over
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.
