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.
Republicans Introduce OMAR Act to Deal With Corruption in Congress
The cost of this grocery staple is nearing record highs — and Americans can’t get enough
Judge says Abrego Garcia Supreme Court ruling may shape Venezuelan deportation case
Florida Poaches Yet Another Juggernaut California Business as Economic Red Shift Continues
Jasmine Crockett’s vulgar 6-word message for Trump in Epstein probe
Senate Republicans find their secret weapon as they try to navigate midterm ‘headwinds’ with Palm Beach getaway
Watch: Patriots Player Helps Take Down Field Invader in Moment Not Seen During Broadcast
Ghislaine Maxwell pleads Fifth Amendment, dodges questions in House Oversight Epstein probe
GOP accelerates Trump judge confirmations as pressure builds to kill Senate blue slip
Turning Point USA’s Alternative Halftime Show Draws Huge Numbers
Nancy Guthrie’s church prays God would ‘guide the authorities’ in search
US forces hunt down and board tanker ship defying Trump admin quarantine
Hochul running mate voted to allow noncitizen voting in NYC elections
Bogus businesses and ‘lax’ oversight: How hospice fraud has flourished in California
Bad Bunny’s halftime show ripped for suspected political message and more top headlines
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.
