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.
Video: Trump Predicts $2 Gas ‘Very Soon,’ Says May Even Go Lower
Vance visits church where Christians believe Jesus was crucified, resurrected amid Israel-Hamas ceasefire
Americans could face airport chaos if Dems don’t end shutdown, Trump official warns
Watch: JD Vance Defends His Wife from ‘Disgraceful’ Comments Made by Jen Psaki
Largest teachers union teams up with ‘60s radical professor’s namesake org peddling anti-American curriculum
Trump yet to endorse in VA governor’s race – but also kept Youngkin at arm’s length
Revealed: Biden’s Secret Service Had Agent So Fat She Couldn’t Pass Her PT Test, Did Plus-Sized Modeling on the Side
NATO Chief Admits Trump Is ‘Completely Right’ About Tomahawks After White House Meeting
California police officer struck and killed by car while stopping to help driver
Illinois GOP governor candidate loses son, daughter-in-law, 2 grandchildren in helicopter crash
Daniel Cameron tiptoes around Obamacare subsidies in bid to replace McConnell
Trump to host roundtable on efforts to thwart cartels, human trafficking operations
Top House appropriator bullish on post-shutdown breakthrough
‘This insanity needs to stop’: Parents frustrated as three transgender bathroom cases unfold at one Fairfax County school
Newsom threatens to sue if Trump sends troops to San Francisco: ‘Wannabe tyrant’
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.
