USA added 313000 jobs in February, most in over a year

10 March, 2018, 01:14 | Author: Elaine Woods
  • The Market In 5 Minutes Trump And Kim Jung Un Toys R Us Liquidation Zosano's Move Big Payrolls Beat

Retail along with professional and business services followed with 50,000 jobs each and manufacturing added 31,000 jobs.

The news left Republicans even more optimistic about economic progress under President Trump.

Economists have warned that industries that use steel and aluminum - from vehicle companies to craft breweries - could face significant job losses as a result of the tariffs.

On Twitter, the president expressed elation.

There is optimism that tightening labour market conditions will spur faster wage growth this year and pull inflation toward the Fed's two per cent target.

More modest wage growth cools fears about inflation and rising USA interest rates, both of which spooked the markets last month.

The U.S. nonfarm payroll employment increased by 313,000 jobs in February, the 89th straight month jobs have been added on to what is the longest streak of monthly job growth on record.

The national economy added 15,400 net new jobs in February edging the Canadian unemployment rate down to 5.8% from 5.9% in January.

On one side are those who worry about overheating: Given the 4.1 percent jobless rate (that number was unchanged in February), if the economy is allowed to boom, it will create inflation rather than improvement in real living standards. (Some of the post-tax-cut compensation announcements over the past few months were ultimately credited to this pressure.) In February, average hourly wages rose a modest 4 cents, after a 7-cent increase in January. It's been adding jobs at a steady clip, it's drawn people back from the sidelines, and unemployment has plunged. Economists were expecting to see job gains of around 200,000.

Trump asked witnesses in Russia probe about investigator discussions
These interactions (depending on how you interpret the McGahn conversation) may not be illegal, but they raise serious questions. US President Donald Trump at a White House meeting in Washington February 28, 2018.

Vietnam hosts US aircraft carrier for first time since war ended
Some 58,000 American soldiers and an estimated 3 million Vietnamese were killed in the war. USS Carl Vinson is anchored at Tien Sa Port in Danang, Vietnam , Monday, March 5, 2018.

Gun Issue About More Than Guns
They look repeatedly at the landscape of America's gun culture and warn that the carnage will be repeated if nothing is done. Nevertheless, the NRA and other enthusiastic gun owners dismiss the seriousness of our gun violence today.

Discouraged workers are persons not now looking for work because they believe no jobs are available for them.

Employment in other major industries, including wholesale trade, transportation and warehousing, information, leisure and hospitality, and government, showed little change over the month.

But there also were signs the hunger for increasingly scarce workers was causing companies to dig deeper into the labor pool. The remaining 1.2 million persons marginally attached to the labor force in February had not searched for work for reasons such as school attendance or family responsibilities.

Still economists said the report does not fuel fears of runaway inflation.

This chart isn't that novel, but it is important: unemployment is something to watch this report and every report this year, because it's probably headed below 4 percent. Chris Low of FTN Financial said in a client note.

But judging from recent comments, at least, it seems unlikely that the Fed will pay heed to those arguments.

The recovery from the Great Recession has been plagued by tepid wage growth of about 2 percent a year.

The Labor Department says wage gains, meanwhile, fell from the previous month to 2.6 percent year-over-year growth.

Anecdotal reports suggest worker pay is indeed beginning to rise.

Recommended:



Popular

Kate Middleton's generous, she visits a association and made a moving speech
The pregnant royal was charmed with the little one so she stopped and had an adorable interaction with the baby. It was earlier claimed Kate may give birth on St George's Day , giving the nation a patriotic boost.

Matic says Manchester United must improve in order to beat Liverpool
Smalling's goal was followed by a superb effort by Romelu Lukaku in the 76th minute which equalised the score for the visitors. Yet, for all their time on the ball, Mourinho's side created precious little to worry Hennessey in the Palace goal.

What's in the Senate Financial-Regulation Bill
The smaller banks have held their own, but we're operating with 2000 less community banks a day than we were 12, 15 years ago. After 18 months, those requirements would no longer apply to banks with assets ranging from $100 billion to $250 billion.

DUP tells Barnier current European Union proposals on Brexit are unacceptable
Those proposals should not be flippantly dismissed, Foster said. "It talks about giving the north-south ministerial council powers".

The man who stole Frances McDormand's Oscar arrested
After getting her trophy engraved at the Governors Ball on Sunday, McDormand , 60, misplaced her trophy, USA Today reported. A man is being questioned after Frances McDormand's Best Actress Oscar was stolen.

Shape of Water wins best picture at Oscars 2018
He thanked America "for the many wonderful gifts it has given me - my home, my livelihood, my family and now Oscar". As they say, presenting is lovelier the second time around, Dunaway joked.

S.Korean President to send special delegation to Pyongyang
They, by the way, called up a couple of days ago, they said 'we would like to talk, '" Trump said. Chung has worked to coordinate American and South Korean approaches toward North Korea .

National Basketball Association games Saturday, scores, highlights: Rockets beat Celtics for 15th straight win
Somehow both teams found enough time to foul each other and take ten more total free throws in the final seconds of the game. He had an adventure at the line to end this game as the Celtics blew a lead after three quarters.

Gatwick Airport advice - check on your flights
Aer lingus flights will begin to wind down from three o'clock this afternoon, with other airlines following at 4pm. The extreme weather brought plunging temperatures and heavy snow with up to 40cm falling in some areas.

Woods adds Valspar tourney near Tampa to his road to Masters
Woods' next two starts likely will be his last prior to the Masters, which will be April 5-8 at Augusta National Golf Club. And former PGA Tour victor Brandel Chamblee believes it is only a matter of time before Woods contends for a trophy.