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.
Jim Acosta ruthlessly mocked for comparing removal of Trump’s name from Kennedy Center to fall of Berlin Wall
Haitian fraudster’s eye-popping taxpayer-backed drug scam puts Congress on the hunt
Horror Discovery: Remains of More Than 30 Unborn Babies Found in Pathologist’s Garden
Stephen A. Smith says ‘Karmelo Anthony murdered Austin Metcalf’
Iran Says Fighting Will End ‘Immediately and Permanently’ After Trump Announces Peace Deal
Zelensky laments Russian attack that damaged 1,000-year-old church
Trump Announces Iran Deal Is Complete, Says Military Operations Will End Immediately
Missouri skydiving plane crash that killed all 12 aboard is a ‘devastating loss,’ company says
Trump bet tariffs would bring back American factory jobs. New report says it didn’t work
Trump heads to G7 with Iran deal momentum, trade fights waiting
Both gubernatorial candidates look to Make Iowa Healthy Again
Immigrants filed tens of thousands of lawsuits in Trump’s first year
Detroit sisters accused of stabbing restaurant worker after wrong food order
Trump mixes sports and patriotism with UFC Freedom 250 ‘spectacle’
UFC Freedom 250 White House event: Photos
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.
