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.
Hasan Piker becomes both a Democratic kingmaker — and political liability
Abdul El-Sayed’s Medicare-for-all crusade collides with an awkward contradiction involving his wife
GOP Senate Nominee Mike Rogers Kicks Off Race Against El-Sayed With a Big Swing
‘Large Jewish Dem Donors’ to Back Republican Mike Rogers After El-Sayed Wins Dem Primary: Report
DOJ puts $25 million bounty on US-born cartel leader
Trump’s antitrust point man could reshape Big Tech cases against Google and Apple if confirmed
US revokes Brazilian ambassador’s visa in diplomatic tit-for-tat
Alex Murdaugh’s lawsuit against Rebecca Hill dismissed by judge who says clerk doesn’t owe him for defense
FAA, NTSB investigating possible violation of safety protocol involving Trump, Marine One
Tlaib moves to block ICE airport arrests, says TSA helping target immigrants
Israel strikes Hezbollah in Lebanon as Rome peace talks continue
Exclusive: Grieving mom reveals deadly cost of illegal immigration as daughter’s killer seeks parole
‘Oxferd Comma’ investigation being declassified by White House, with John Solomon briefing
Putin selects commander to lead new drone warfare branch of Russian military
Trump Declares El-Sayed’s Michigan Win ‘Great News for the Republican Party’
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.
