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.
Federal court clears California’s new House map boosting Democrats ahead of 2026 midterms
Protesters clash with federal officers after another ICE shooting in Minneapolis
Hochul endorses legislation to allow New Yorkers to sue ICE agents: ‘Power does not justify abuse’
Mamdani housing czar called ‘White, middle-class homeowners’ a ‘huge problem’ during 2021 podcast appearance
Parents erupt into massive brawl during Catholic youth basketball game in Staten Island
ICE agent shoots Venezuelan national in Minneapolis after shovel attack during ambush: DHS
Taxpayer-funded Minnesota charter school shuts down in-person learning amid ICE raids
Top federal Minnesota prosecutors officially terminated after dispute over ICE shooting probe
House GOP revisits Biden handling of Jan. 6 with new panel
‘It’s Stopping’: Trump Makes Major Claim About Deadly Iranian Protests
DHS exposes background of NYC city council employee after Mamdani fumed over arrest
PHOTOS: Here Are 5 of the Worst, Most Evil Illegals that ICE Officer Ross Was Working to Arrest When Renee Good Tried to Murder Him
Key Republicans flip, kill effort to restrain Trump’s policing power over Venezuela
Top Iranian official downplays death toll, blames ‘Israeli plot’ as US considers strikes
Hawley, Moody react after heated Senate abortion hearing exchange: ‘Can men get pregnant?’
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.
