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.
Climber dies in fatal fall on Colorado 14er south of Aspen
US forces sink narco-refueling station linked to Ecuadorian cartel in Pacific: SOUTHCOM
Trump Pre-empts Canada’s Retaliatory Tariffs by Telling Jet Maker Bombardier ‘No More Selling’ in US
‘You’re Fired’: Police Event Scraps Jelly Roll Performance in Response to Trump-Bashing on ‘Kimmel’
Watch: Stadium Erupts as Florida Brings Back Chant That Was Banned for Years Due to Imaginary ‘Racist’ History
Leftists Call for Murder of Liberal Financial YouTuber for Promoting Personal Responsibility to Overcome Debt
Trump Admin Preparing Plan to Boost Nuclear Families by Paying Stay-at-Home Moms: Report
NTSB reveals if crew survived Amazon cargo jet disaster as it shares details about victims
Dem Governor Orders Flags at Half-Staff for Gloria Steinem – Will Remain Lowered on Anniversary of Charlie Kirk’s Murder
Menendez brothers granted 2027 parole hearing a year earlier than expected
Convicted Murderer Karmelo Anthony Now Begging Supporters for Another $250,000
New Mexico’s Dem Governor Triggered After Trump Jokingly Suggests New Name for Her State
Radical Muslim Kills Gay Pro-Palestine Activist Outside Gay Bar
WJ Straw Poll: Rubio Surges to Commanding Lead, Vance Cruises Past Massie
Alleged cryptoscam ringleader set for plea hearing in $240M bitcoin theft
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.
