Employment Increased By 313000 In February

Employment Increased By 313000 In February

Employment Increased By 313000 In February

The report said 313,000 workers were added to payrolls last month - an increase of more than 100,000 than were added for January.

The unemployment rate held at its lowest level since 2000 for the fifth consecutive month. According to the agency, the areas of construction, retail trade, professional and business services, manufacturing, financial activities and mining all saw employment increases.

Hourly earnings likely added 0.2 percent in prior month, continuing strong gains since its unexpected fall in October.

The 313,000 jobs that the nation added in February are far more than are needed to keep up with population growth and continue a surprising burst of job creation to start the year. A majority of economists - 42% - surveyed by Bankrate.com are expecting four or more rate hikes this year; 37% are projecting three increases.

The average hourly wage grew by 0.1 percent. The Dow is down over a thousand points since last month's employment prediction, while the Atlanta Fed's GDPNow model forecasts Q1 GDP has settled to a healthy but more grounded 2.8 percent, down off of a transient but eyebrow-raising 5.4 percent.

Manufacturing payrolls are also expected to have gained 15,000 jobs, with robust domestic and global demand, as well as a weaker dollar bolstering the sector. The figure for February was also significantly higher than the roughly 200,000 new jobs that most economists had expected.

More modest wage growth cools fears about inflation and rising United States interest rates, both of which spooked the markets last month. The participation rate, which reflects people who are working or looking for a job, registered its best one-month gain in almost eight years and is at 63%. Today's employment numbers strengthen the view that the USA economy is still on a strong growth trajectory.

The February hiring increase kept the unemployment rate steady at 4.1 percent, where it has remained since October 2017, the Chicago Tribune reported.

Job seekers filled out employment applications during a career fair in Jeffersonville, Ind., in September.

It turns out that this is due to the way the jobs numbers are gathered and how the days of the week fell this year during a short month.

"In a nutshell, the tax cuts are already boosting hiring, but as long as it's not causing wages to accelerate or the unemployment rate to drop, why worry?"

Manufacturing totaled 12.614 million jobs on a seasonally adjusted basis in February, which is up from 12.583 million in January 2018.

Pennsylvania's unemployment rate remained stable in January, even as employment and payrolls crept down slightly.

Related news

[an error occurred while processing the directive]