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.
‘Moderate’ Dem’s unearthed ‘deconstruct’ law enforcement comments draw fire from GOP critics
Inside the rise of hardship politics as wealthy Democrats eye 2028
Magnitude 6.0 earthquake rocks Hawaii’s Big Island as Kilauea volcano likely to erupt again in days
Judge Tosses Evidence Against Luigi Mangione
UC Davis fraternity student’s 2001 death ruled a suicide after 29 stab wounds questioned in true crime podcast
Dem Darling Raked In Cash From Donors With Chinese Gov’t, CCP Intel Ties
Platner’s brutal attacks on Army soldiers as ‘fat, lazy’ revealed in resurfaced posts
Havana regime in suspense after Castro indictment with Trump pressure on, says Cuban-born GOP Rep.
Kansas City barbecue restaurant prepares for World Cup tourism rush
Feds seize $6.4M worth of cocaine aboard oil tanker at Port of Los Angeles, arrest suspected cartel smuggler
‘Illicit’ version of fentanyl linked to deadly New Mexico incident that sickened first responders
High school teacher who allegedly had sex with student in closet now faces charges involving more teens
Military families demand DOJ distribute nearly $800M from French cement company found guilty of bribing ISIS
Children’s YouTube Superstar Announces the Death of His 14-Year-Old Son
Kyle Busch 911 Call Released, Shedding New Light on His Shocking Death
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.
