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.
Carney casts himself as NATO defender amid Trump beef, despite Canada missing key benchmark for decades
Report: China Supplying Iran with Anti-Aircraft Weapons to Aid in Fight Against US
Conservative Journalists Obtain Files on Charlie Kirk Murder from Utah Valley University
The states revealed as best to start a family amid cratering belief in the American Dream
Christmas Vacation and Congress: ‘We’re all in misery’ amid the ongoing DHS shutdown
Eric Swalwell accused of paying nanny with campaign funds while she lacked work authorization
Breaking: US, Iran Exit Face-to-Face Negotiations with No Deal
Vance says US-Iran talks end without deal after 21 hours of negotiations
Poll: 1 in 5 Young Germans Plan to Move Out of the Country, Even More Imagine Living Somewhere Else
Swalwell’s Endorsement List Is Being ‘Nuked From Orbit’ After Sex Abuse Allegations — But Here’s Why Dems Don’t Get a Pass Now
Outrage: 8-Year-Old Playing on Her Bike Is Dead After Punk Revving Car Allegedly Hit Her – His Bond Was $1,000
Artemis II crew reflects emotionally on lunar mission after safe return: ‘Bonded forever’
Swalwell, Who Said We Should ‘Believe Survivors,’ Issues Denial Saying We Shouldn’t Believe Women Who Say They Survived Sex Abuse By Him
House Republican plans motion to oust Swalwell from Congress amid sexual assault allegations
Self-proclaimed ‘prophet’ with underage ‘wives’ exposed after couple he trusted helped uncover abuse ring
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.
