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.
Bear caught on camera perched atop New Mexico utility pole before reportedly suffering fatal electrocution
Teachers who once dated and share child arrested after classroom argument spiraled into violence: police
Jack Smith hit with criminal referral as GOP moves testimony fight toward prosecution
Trump salutes ‘great heroes’ as he attends dignified transfer of US service members killed in Jordan, Iraq
Ethiopian Immigrant Arrested After Execution of 3 Rental Workers – Felt He Was Being Discriminated Against
Judge questions whether Hegseth’s testosterone plan undermines transgender troops ban
Newsom turns to Hunter Biden’s high-powered ex-lawyer as federal scrutiny closes in on his family, allies
Fox News Star Crushes Lindsey Graham’s Sister, Other Contenders in South Carolina Senate Poll
Trump gives emotional tribute to fallen Army Lt Tyler Feehan after flying grieving family on Air Force One
Musk Pledges $100 Million to ‘Historically Accurate’ Version of ‘The Odyssey’ with Mel Gibson as Director
Chaos erupts as House passes $1.15T defense bill with Israel provision: ‘Stop stoking Jew hatred’
AOC surges past Buttigieg, leaves Harris in the dust in key 2028 battleground poll
Mamdani Gets a Reality Check from His Lawyers After Vow to Arrest Netanyahu
Court records detail Tate brothers’ alleged rape of three women
Horrific: Elderly Woman Stabbed to Death in Random Daylight Knife Attack at California Mall
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.
