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.
ICE accuses Dem lawmaker of joining ‘rioting crowd’ in Arizona, interfering in mass arrest
Trump rips Indiana GOP leader over redistricting fight, warns Republicans could face ‘MAGA primary’
Trump administration establishes militarized zone in California: “Strengthen border security operations”
Trump admin weighs terrorism sanctions against UN Palestinian aid agency over Hamas allegations
Ukrainian woman charged over Russian-backed cyberattacks; $10M reward offered for others
Walz urges Noem to ‘reassess’ immigration enforcement strategy in Minnesota after alleged citizen arrests
Obama surprises Chicago students in Santa hat for holiday library storytime reading session
Activist group hits federal judge with judicial misconduct complaint for attending Trump rally
Elite College Football Program Rocked, Head Coach Fired in Salacious Scandal
Former music teacher allegedly groomed and had inappropriate relationship with teen student
Democrat Notches Party’s First Win in Decades in Major Red State Mayor’s Race
Multiple Suspects Arrested After 7 Students Overdose at a Single College Party
Microsoft Announces $17.5 Billion Investment in India After Laying Off Thousands of Americans in 2025
Charity Group Begs Trump for a ‘Christmas Miracle’ After USPS Rejects Hundreds of Care Packages Meant for Overseas Troops
Watch: Trump Drives a Stake Through the Heart of Fake News That He’s Ticked at Hegseth and Noem
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.
