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.
Gabbard ends task force that aimed to reform intelligence gathering after less than a year
Florida man allegedly points gun at multiple drivers during road rage confrontation
IRS erroneously shared confidential immigrant taxpayer data with DHS: court filing
Federal Judge releases four illegal immigrants convicted of murder, sex crimes from ICE Custody
Affluent Upper East Side explodes in outrage over controversial homeless shelter: ‘Unacceptable!’
Trump threatens ‘consequences’ after 6 House Republicans voted to reverse his Canada tariffs
Illegal alien youth coach could face death penalty after allegedly murdering, raping teen player
Wild Exchange: Nadler Makes Mistake of Insulting Bondi, Triggering a Scorched Earth Response Where She Brings the Receipts on His Hypocrisy and ‘Gutter’ Behavior
Chinese criminal gang allegedly recruited Navy members for sham marriages and base access
Trump directs military to strike new deals with coal-fired power plants: ‘Going to be buying a lot of coal’
Watch: Nadler Appears to Be Dead Asleep at Epstein DOJ Hearing – Same Hearing Where He Accused AG Bondi of Not Caring About Victims
Report: This GOP Advantage Has Some Democrats Panicking About Their Midterm Chances
GOP Senator Does Deep Dive on Trump Assassination Attempt and Remains Troubled by ‘Unresolved’ Questions
DHS unloads on anti-ICE Dems after man arrested with manifesto, ‘disturbing’ alleged plot to kill agents
Vehicle falls 500 feet off towering cliff along California scenic roadway, killing one
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.
