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.
Iran Accused of Hacking French Supermarket Refrigerators in Latest Cyber Attacks: ‘Unprecedented’
Watch: Liam Neeson Unable to Hide His Disgust When He Learns How Netflix Is Butchering ‘Narnia’
Dana White takes questions at podium during White House briefing with Trump
Jeffries vows Democrats won’t ‘give a dime’ to Trump’s deportation efforts
Watch: CNN Interview Blows Up in Garcia’s Face After He Talks About Stephen Miller’s Crimes, But Can’t Name Any… Twice
Trump tells DHS chief to work with Democrats on immigration reform, but no amnesty
Breaking: GOP Navy SEAL Vet Holds on to House Seat in Battleground State
Trump’s redistricting gamble faces reckoning as GOP holdouts claim vindication
FBI investigates suspected homicide aboard MSC Seascape cruise ship after sudden return to Texas
Arizona Republican holds House seat, surviving re-election scare
White House doubles down after Trump angers base by floating illegal alien deal with Dems
Hakeem Jeffries’ Speakership Hopes Take a Blow as Newly Elected Democrats Bring Chaos on Their First Day in D.C.
Next Generation OPIR GEO: Building America’s gateway to the future of space-based missile warning and tracking
Three Former Trump Admin Officials Launch $1 Billion Company That Puts a New Spin on Data Centers
Spanish prime minister calls meeting over ‘migration emergency’ as thousands surge into Canary Islands
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.
