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.
San Antonio ends its abortion travel fund after new state law, legal action
Trump says Greenland’s defense is ‘two dog sleds’ as he pushes for US acquisition of territory
Wild video shows federal agents detaining 2 men at Minnesota gas station as agitators gather
Trump says Iran ‘starting to’ cross US red lines as protesters die in government crackdown
Deadly avalanche claims 2 snowmobilers in Washington state backcountry, 2 rescued
Breaking: Truck Plows Through Anti-Iranian Regime Protest in Los Angeles
Trump’s motorcade route adjusted after Secret Service finds ‘suspicious object’ at Palm Beach airport
Jacob Frey tells critics ‘sorry I offended their delicate ears’ after ICE f-bomb controversy
Street takeovers and traffic control by agitators in Minnesota cross legal lines, retired detective says
Suspect arrested after fire burns oldest Mississippi synagogue
US used sonic weapon on Venezuelan troops, report shared by Leavitt claims
Critical clue led police to suspect Chicago doctor in deaths of Ohio dentist, wife
LA Residents Still Battling Toxic Hazards in the Aftermath of Last January’s Devastating Wildfires
DHS deploying hundreds more federal agents to Minneapolis, Noem announces
Chinese Communist Party Rounds Up Members of Underground Christian Church in Crackdown
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.
