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.
Multiple people wounded in mass shooting at Seattle Center, police say
Newborn vanished after secret birth, parents allegedly claimed baby ‘was a prank’: cops
Inside Fauci’s private diary: What he wrote about Trump, TV personalities and celebrities
ICE prepares major operation targeting Haitians losing TPS after Supreme Court ruling
One dead, 6 injured after gunfire erupts at unsanctioned California party that drew hundreds: sheriff
Jeffries pivots to Trump and GOP when asked about noncitizens on New Jersey voter rolls
Melania Makes Next Move After Judge Tosses Out Anti-Trump Author’s Lawsuit Against Her
This red state is strengthening its grip as America’s next economic heavyweight
Mickey Mouse Massacre: Disney Has Third Round of Layoffs, Hitting ESPN, Pixar, More
Everyday Revolutionary War heroes take center stage in Trump’s ‘Spirit of ’76’ exhibit
Watch: Red Skelton’s Legendary Pledge of Allegiance Performance for Kids Resurfaces After Another Dem Lawmaker Disrespects the Pledge
Drinking Coffee Is Actually Good For Your Heart, But There’s A Catch
Fauci’s newly released COVID diaries reveal bizarre fixation on fame as pandemic deaths mounted
Watch: Weakest Police Chief in America Lets Marxists Take Over Briefing, Call for Murder of His Officer, and Then He Thanks Them for Coming
Video: Missouri High-Speed Chase Suspect Survives After Stopping Car, Swan Diving Off Bridge to Escape Cops
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.
