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.
Video: ‘In the Name of Allah’ – Man with Knife Arrested in Ohio for Threatening to Kill Father, Then Chasing His Unsuspecting Daughter
Charlotte light-rail murder suspect ruled incompetent to stand trial as history of crazed claims trails case
Top GOP hawk Graham warns Iran deal has ‘troubling aspects’ as ceasefire begins
JD Vance’s Task Force Uncovers $6 Billion in Potential Fraud, Begins Taking Action: Report
Trump admin scores Minnesota court win in Medicaid fraud crackdown
Ex-paramedic accused of drip-feeding wife to death—then faking his own kidnapping when heat turned up
Dem Senate nominee distances herself from Kamala Harris ahead of visit: ‘Will not be attending’
Rex Heuermann, suspected Gilgo Beach serial killer, pleads guilty to seven killings
California fraud concerns ramp up as man pleads guilty to massive scheme using taxpayers as his ‘piggy bank’
Who has been killed so far during the Iran war?
Eric Swalwell denies sexual harassment rumors as allegations mount
Husband of American woman missing in the Bahamas speaks out for first time, says he is ‘heartbroken’
Now That There’s a Ceasefire, There’s One Question Iran Will Be Forced to Answer: Where’s the Guy in Charge?
5 US House races shift toward Democrats: Cook Political Report
Trump Touts ‘Golden Age of the Middle East’ After Iran Ceasefire: ‘Big Money Will Be Made’
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.
