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.
‘Illicit’ version of fentanyl linked to deadly New Mexico incident that sickened first responders
High school teacher who allegedly had sex with student in closet now faces charges involving more teens
Military families demand DOJ distribute nearly $800M from French cement company found guilty of bribing ISIS
Children’s YouTube Superstar Announces the Death of His 14-Year-Old Son
Kyle Busch 911 Call Released, Shedding New Light on His Shocking Death
Way harder than it should be: Why Congress may balk on $1.7B compensation fund
Trump announces highest civilian honor for 9/11 hero remembered as the ‘Man in the Red Bandana’
New Jersey Officials Say the Mafia Is Thriving Again as Tech-Savvy Mobsters Take Crime Online
Sheridan Gorman’s parents say protecting children from failed immigration policies isn’t a one-party fight
DOJ vows to appeal after judge dismisses smuggling charges against Kilmar Abrego Garcia as ‘vindictive’
Police: Men Executed Florida Firefighter for a Pair of Nikes and an iPhone, Gloated About It
Grady Judd puts parents on notice over TikTok teen takeovers: ‘We’re gonna come lock you up too’
NYC Mayor Zohran Mamdani releases audit accusing federal immigration agents of misleading tactics
Republicans get ‘aggressive’ in fight to win top cop spots in battleground states
Georgetown Cupcake keg-throwing suspect turned in by his own father after recognizing surveillance footage
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.
