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.
RNC chair bets on ‘secret weapon’ to defy midterm history, protect GOP majorities
The awkward question that Josh Shapiro won’t answer
Guerrilla-like ‘ICE Watch’ groups backed by top, left-wing grantmakers
The frenetic charm of ‘Marty Supreme’
Latin Kings gang member accused of vandalizing FBI vehicle, stealing government property in Minneapolis
Suspect accused of killing sleeping passenger on Chicago train filmed himself carrying out attack: prosecutors
Noem names Charles Wall ICE deputy director following Sheahan resignation
Tom Homan offers to pull ICE from Minneapolis ‘real quick’ upon access to jails
WATCH: ICE takes down illegal alien who allegedly rammed law enforcement vehicles, nearly running over officer
Trump’s tariffs could be undone by one conservative doctrine: ‘Life or death’
As Trump Contemplates Invoking the Insurrection Act Against Minnesota, Washington’s Example as President Is Instructive
Florida teens buried alive in deadly sand tunnel collapse
Women’s sports on the line as Supreme Court wrestles with defining ‘sex’
Massachusetts town faces lawsuit for allowing criminal immigrant, sex offender to renew business license
Irony Alert: Pro-Illegal Immigration Minneapolis Mayor Says City Has Been ‘Invaded’ by ICE Agents Who Don’t Share Local ‘Values’
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.
