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.
Appeals court rules ‘Alligator Alcatraz’ can stay open, rejecting push for federal environmental impact review
EXCLUSIVE: DHS honors angel families during National Crime Victims Week, calls crimes ‘completely preventable’
Democrats win Virginia redistricting fight, threatening Republican House majority
‘Melrose Place’ and ‘Starship Troopers’ Actor Patrick Muldoon Dies at Age 57
Top House Republican Warns Ilhan Omar That Her Financial Disclosure Revision Won’t Save Her
EXCLUSIVE: Pence warns GOP ‘must deliver,’ or Planned Parenthood gets taxpayer cash on Fourth of July deadline
Federal court upholds Texas law requiring Ten Commandments in public classrooms
DOJ says Southern Poverty Law Center funneled $3M+ to white supremacist and extremist groups
Trump and DeSantis Discuss Appointment to Key Administration Position: Report
Rep. Luna calls for GOP ticket of JD Vance and Marco Rubio in 2028
‘ICON’: Biden DOJ officials privately fawned over Fani Willis as they coordinated on Trump investigation
BREAKING: President Trump Makes Major Announcement About Upcoming Attack on Iran
High school counselor pleads guilty to multiple sex crimes involving teen she was meant to help
Trump says China tried to send ‘gift’ to Iran, undermining his ‘good relationship’ with Xi
Americans among injured at shooting caught on video at tourist hot spot in Mexico
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.
