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.
Trump says he will nominate acting AG Todd Blanche to permanently lead Justice Department
US military kills two alleged narco-terrorists in latest Eastern Pacific strike on drug-trafficking vessel
Rubio torches Democrat after bizarre hearing questions about his shoes: ‘Is this a circus?’
Gov. Mikie Sherrill accuses ICE of denying her access to Newark detention facility Delaney Hall
Bessent flips script on Dem senator with reminder about his son’s past ties to Epstein
Watch: Painful Silence Descends After AG Blanche Asks Dem Rep to Provide Source for Wild Epstein Claim, Then She Gives Dumbest Answer Possible
Garth Brooks Nears Unprecedented $2 Billion Deal That Would See Him Relinquish His Music Catalog: Report
Frontier passengers tackle man who allegedly choked off-duty flight attendant, tried to open door mid-flight
Watch: Marco Rubio Stunned as Democratic Rep Completely Loses It and Walks Out of Hearing
Islamic Guerilla Forces Attack Christians in African Country, Slaughter 21
Texas Leftist’s ‘Rally Against Rednecks’ Backfires
Christian Couple Wins Massive Victory Over Blue State That Barred Them from Foster Program
Thune moves to neutralize immigration bill landmines from DOJ lawfare fund
Rep. Al Green tells Homeland Security Sec. Mullin to ‘shut up’ after calling him a racist at hearing
Trump says anti-fraud efforts are uncovering billions in waste, claims savings could balance budget
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.
