The U.S. economy continued to add a robust number of jobs in February, with gains of 311,000, while thecome as the Federal Reserve is looking for signs that the economy is slowing and its aggressive rate hikes are working. The job gains slowed from January, but they still were higher than expected.Eric Garcetti's Nomination As Ambassador To India Clears Senate Committee
The largest gains were in leisure and hospitality, retail, government and health care. Information industries and transportation and warehousing saw declines. The latest report also reflected some of the headlines over job cutbacks in entertainment, media and tech. Jobs in motion picture and sound recording industries dropped by 5,000, and there was a decline of 3,000 in the telecommunications sector. Overall, jobs in the information sector dropped by 54,000 since November, the BLS said.
January’s job report showed blockbuster job gains of 517,000, leading some economists to wonder if it was an anomaly or if the data would be revised. The BLS did make a revision, but dropped its estimate by only 13,000 jobs. Mark Zandi, chief economist at Moodys Analytics, wrote on Twitter that the latest jobs report “was all-in-all a good one. Yes, the 311k job gain is still too strong, but hours worked declined, and labor supply is also strong, thus the increase in labor force participation and the unemployment rate. And wage growth is moderating.”
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Economy again beats expectations with 311,000 jobs in February, unemployment rises to 3.6%JUST IN: The stronger jobs report shows that the central bank's rate hikes aren’t yet having the punch officials hoped and could cause the Fed to lean toward a more aggressive monetary stance at its meeting later this month. Good. These were jobs were finally filled after the pandemic closures & the unemployment/free government money stopped & people have to work to survive; these are not newly created jobs. Raising taxes will cause layoffs, even higher prices; a never ending viscous circle of pain. A lot of that job growth is from people taking second & third jobs just to not go under. The Fed won't stop until they have a high enough unemployment rate. And some people are working 16-18 hours a day just to make ends meet. This ain't my first rodeo!
Source: dcexaminer - 🏆 6. / 94 Read more »
Economy adds 311,000 jobs in February, reflecting ongoing labor market strengthThe job gains came in lower than January’s eye-popping numbers, providing bolstering evidence that the economy may finally be cooling. February marked the 26th straight month of job growth, according to data released Friday from the Bureau of Labor Statistics. The recent uptick in jobs could spur the Federal Reserve to raise interest rates more sharply. Feds: *try to trigger a recession to undermine the labor market The labor market: And added proof that whoever this writer is, did not attend Econ 101. This is NOT a 'strength in the labor market'. It's a lack of a labor market due to Bidenflation caused by stupid energy policies.
Source: washingtonpost - 🏆 95. / 72 Read more »
U.S. Economy Added 311,000 Jobs in FebruaryU.S. hiring grew solidly but cooled some last month, while the unemployment rate rose to 3.6%. Sure it did.. ill wait for the adjustments That makes no sense lmao Rose?!
Source: WSJ - 🏆 98. / 63 Read more »