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.
Major blue state hospital pulls plug on controversial child transgender treatments after DOJ intervention
Reporter’s Notebook: Dem rebels expose cracks in Jeffries’ House leadership
Socialist Convention Panelists Declare Fitness ‘Body Fascism,’ Claim Capitalism is ‘Genociding Fat People’
DHS Secretary Markwayne Mullin Announces Symbolic Change to Official Agency Seal
EXCLUSIVE: Newsom says Democrats ‘stopped showing up’ as California governor makes his case to the South
Eiffel Tower reopens following staff strike over female workers removed during Hindu leaders’ visit
Dem city bashed for policy ‘encouraging criminal illegal aliens’ as rap sheets revealed: ‘Lives on the line’
Bryan Kohberger’s bid to oust judge and undo guilty plea moves forward with new court date set
Third Burning Man festivalgoer dies during final days of annual Nevada desert gathering
Indonesian Pastor Arrested on Claims of ‘Blasphemy’ Against Islam
Lindsay Clancy’s Attorney Requests Pardon from Trump
Mamdani to release documents on 9/11 health impacts before 25th anniversary
US rebuilding weapons stockpile could delay orders from allies
Unearthed interview exposes what Talarico thought about ‘tough-on-crime’ tactics
Haitian Church Members Attacked by Gang While Providing Shelter to Needy Neighbors
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.
