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.
Fox News Campus Radicals Newsletter: Christianity rejected, socialist streamer speaks, violence glorified
FBI’s first cyber fugitive on Ten Most Wanted list returns to US after capture in Venezuela
Blue state councilman mocked after claiming self-driving cars are ‘murdering’ pets: ‘Hide your cats’
Watch: Letitia James Has No Answer When Reporter Points Out Big Problem with Her Cornell Move
DNA Test Leads to Adopted Man Learning His Biological Father Is a Rock-and-Roll Legend
Justice Department Finds UCLA Law Has Been Discriminating Against White, Asian Applicants for Years
Watch: Reporter Narrowly Dodges ‘Murder Attempt’ While Filming Outside ‘Taxpayer Funded Drug Dealing Operation’
‘Cornell 7’ Case Turns Political as Kathy Hochul Gets Involved with Executive Order
Los Angeles County Rolls Out New 10.25 Percent Sales Tax
FBI overhauls tech backbone to counter AI threats from foreign adversaries, reduce response times, Patel says
Gypsy Rose Blanchard’s partner, Ken Urker, found dead inside his Louisiana home: sheriff
Amazon expands Prime settlement payouts: Do you qualify?
Dems demanding Venezuela brief face State Department fury as senators leave town without answers
VA University in Legal Trouble After Trying to Take Control of Christian Student Groups but Ignoring Muslims
DOJ Considering Whether Prosecutor’s Office Committed Misconduct Against Nixon: Report
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.
