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 True Crime Newsletter: Buster Murdaugh seen for first time since dad’s murder conviction overturned
Video shows undercover cops shooting man threatening shoppers with fake gun in ‘justified’ defense: officials
Intense Footage: Police Officer with No Protective Gear Sprints Into Burning House and Saves Entire Family
Court Overturns Former Attorney Alex Murdaugh’s Double Murder Convictions
Dem Senate hopeful’s ‘physician’ campaign pitch under fire after license records reveal key gaps
Massie’s ex-girlfriend alleges he arranged her Capitol Hill job, then offered $5,000 to drop termination suit
Veterans group backing Iowa Democrat’s Senate bid is bankrolled by Schumer-aligned PAC
Trump struggles to shake ballroom backlash: ‘We don’t have the money’
Democrats’ midterm push clouded by infighting over party keeping 2024 autopsy under wraps
New 9/11 Museum exhibit aims to connect younger Americans to the attacks through powerful artifacts
Finland has ‘exactly the same position’ as Trump on NATO failures but pleads not to let Russia, China divide the West
Trump and Cabinet officials welcomed by Xi at China’s Great Hall of the People
CIA Accused of Raiding Tulsi Gabbard’s Office Seizing JFK, MKUltra Documents Set for Declassification
Trump’s upbeat China message collides with deepening Beijing rivalry
China rolls out red carpet for Trump as Xi meeting tests trade, Taiwan tensions
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.
