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.
New limited-edition US passport features Trump’s image and a warning
Judge Shuts Down Tyler Robinson’s Attempt to Dodge Death Penalty
Trump Says Iran Just Committed ‘a Foolish Violation of Our Ceasefire Agreement’
House Democrat lashes out when grilled on whether socialist victories would threaten Dem unity
Trump commission unveils 12-point blueprint to expand US religious liberty protections
Former youth pastor, Vegas yoga instructor charged in wife’s mystery death kills himself in custody: officials
Watch: JD Vance Has Hilarious ‘Note to Protesters’ Yelling at Him in a Foreign Language
DHS Delivers Bad News for 300,000 Haitians in the US: ‘It’s Closing Time’
New York City pours $15M into sex change initiatives as Mamdani accuses federal government of intimidation
Socialists sweep NYC as Americans balk at movement’s brutal catch: ‘Talk to immigrants’
Emailer in Nancy Guthrie case claims to possess video of ‘main guy’ with Savannah Guthrie’s mother
Clinton judge orders DOJ to unseal the Epstein files it has been keeping hidden
Pilot Teams Up with Daughter on His Final Flight for Southwest
Luigi Mangione’s team fires back at plea deal report, calls leaks threat to fair trial
Small plane crashes into Beijing’s tallest building
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.
