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.
Powerful Democratic Donors Terrified About 2028 Due to ‘Floundering’ DNC: Report
NY Sheriff Defies Kathy Hochul’s New Law That Seeks to Block Law Enforcement from Working with ICE
Pro-Trump influencer Laura Loomer shifts toward Ukraine support
Trump questions Thune’s leadership as SAVE America Act stalls
Op-Ed: The First Amendment Isn’t Optional
Army veteran raves over Trump’s plan to ditch illegal alien truck drivers and hire vets
The generational divide over affordability in the Trump economy is all about housing
How One Congressional Resolution Could Save the Midterms: The GOP’s Hindu Vote Gamble
Troy Jackson swapped out Senate campaign official also behind the super PAC backing Abdul el Sayed
Mystery stranger vanishes after family says frantic warning saved their lives during devastating house fire
WNBA Headache Gets Bigger: More Sophie Cunningham Rallies Scheduled
Nancy Guthrie update: DNA couldn’t be profiled from crime scene hair sample, sheriff says
GOP gubernatorial candidate fighting to flip blue state unveils healthcare plan to lower costs, expand access
WATCH: GOP holdout rejects Trump threat as AG nominee standoff explodes
Influencer accused of targeting wealthy dating app matches back behind bars
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.
