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 questions Newsom’s fitness for White House, citing his dyslexia
Court allows DOJ to proceed with appeal over law firm executive orders
Trump lawyer in Jack Smith case draws conservative backing after DOJ praise rattles ‘elite’ legal conference
Vance accuses media of trying to ‘drive a wedge’ between him and Trump over Iran
Cornyn clashes with progressive Rep Greg Casar in heated airport face-off over DHS shutdown
Trump Kennedy Center’s board votes unanimously to approve $257M renovations and two-year closure
Father Sues Blue-State School District on Behalf of His Son Over Pledge of Allegiance
Leaked audio reveals new Iranian supreme leader survived strike because he went outside
Head of Kennedy Center Who Fired Founder of The Western Journal Over Biblical Values Is Now Stepping Down
Greg Bovino, face of Trump’s mass deportation campaign, to retire after controversial Minneapolis raids
Post-Oscar ‘Battle’: Best Picture Actress Gets Into Ugly Altercation with Security Guard
Woman crushed to death under St. Patrick’s Day parade float in front of crowds of spectators
John Cornyn and Greg Casar clash over DHS funding at Austin airport
You Won’t Believe How Much NYC Spent Per Person on Homeless Services
DHS nabs Afghan man admitted under Biden after conviction for exposing himself to minor
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.
