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.
California K-9 Otis helps police seize 440 pounds of cocaine during Alhambra traffic stop
Shooting near Baltimore youth football event leaves 12-year-old girl dead, 3 adults wounded
Trump touts ‘golden age’ at Ohio rally, urges voters to deliver GOP midterm wins
Cornell president says university ‘must do better’ on handling of sexual assault allegations
South Carolina mom couldn’t remember last time she fed 2 daughters before they were found dead: affidavit
Another One: College Prof, Ex-Dem Candidate Arrested After His DNA Found in 15-Year-Old’s Rape Kit, Cops Say
Education Dept. Goes Viral with Takedown of ‘Fake News’ Story on Loan Cuts: No More Handouts for Failing Degrees
Even Healthcare Workers Are Dropping Health Coverage as Obamacare Premiums Hit New Heights
Trump drops Republican Senator’s phone number in social post over fury on stalled bill
Republicans Pour Unprecedented Amounts of Money Defending Seats Trump Won by Double Digits
Spencer Pratt Reveals the Secret Behind His Viral Campaign Ads – And What Every Other Politician Is Doing Wrong
Tennessee prison chief resigns after failed execution as former US attorney tapped to lead independent review
Firebrand GOP rep: Democrats side with Iran ‘simply because they hate’ Trump
Mass Migration Devastated California’s Natural Resources Over Decades: Study
Springsteen, other stars share stage with hardcore leftist groups at music fest
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.
