Markets

Employment Increased By 313000 In February

Employment Increased By 313000 In February

Most of the latest USA jobs report was undoubtedly good.

The Bureau of Labor Statistics said 313,000 jobs were created in February. The U-6, or the underemployment rate, was unchanged at 8.2 percent. The jobless rate held at 4.1 percent, the fifth straight month at that level.

Higher-paying, blue-collar industries reported some of the biggest increases. The initial wage growth figure from January was revised down a notch, too. Over the year, average hourly earnings have increased by 2.6 percent.

Wall Street has been particularly focused on wage growth as an indicator of which story is more compelling - and more to the point, which story the Fed chairman Jerome Powell and his colleagues at the Fed will find more persuasive. The rebound in the workweek and solid payroll print provide strong indications that the economy is poised to buck the trend of recent years, whereby GDP growth was soft in the first quarter, rebounded in the second quarter and leveled out in the second half - a pattern economists call "residual seasonality". The average workweek also rose - meaning firms were looking for ways to get more output from the workers they had - and weekly paychecks rose.

"The report couldn't have been better for the markets", Jack Ablin, chief investment officer at Cresset Wealth Advisors, told The Post.

But it offered "a false picture of a "Goldilocks" economy" for financial markets, she said in a research note.

Slower wage growth could ease short term concerns that the Fed will be forced to speed up interest rates to cool down the economy. The participation rate increased to 63 percent, the highest since September, from 62.7 percent the prior month, the biggest monthly gain since 2010. In 2017, the US economy added 259,000 jobs in January and 200,000 jobs in February.

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

Construction trades added 61,000 jobs, retail added 50,000, manufacturing added 31,000, finance added 28,000 and mining added another 9,000 positions continuing the reversal of jobs in the sector under Obama-era policies.

"It is only a matter of time before we see more sustained increases in wages", she wrote.

MA labor secretary Rosalin Acosta says the state's labor force is expanding and the overall health of its economy remains strong.

People working part-time for economic reasons rose by 171,000 to 5.16 million. January's data was revised up to 239,000, up from the previous estimate of 200,000.

The pace of hiring has picked up recently. With those upward revisions, hiring has averaged 242,000 over the last three months.


  • Sessions defends sanctuary cities lawsuit against California

    Sessions defends sanctuary cities lawsuit against California

    He tweeted that it was "about time" for the federal government to end his state's sanctuary laws. Trump and Sessions, saying he thinks Sessions is just trying to please his boss.
    Microsoft Confirms Windows 10 S Becomes '10S Mode' in 2019

    Microsoft Confirms Windows 10 S Becomes '10S Mode' in 2019

    Chrome OS and Chromebooks proved popular in the education market, both because of the comparatively low price and ease of use. In its place, Microsoft will build a new "S Mode" into Windows 10 Home, Windows 10 Enterprise, and Windows 10 Pro.
    School district officials say planned walkout 'poses a safety threat'

    School district officials say planned walkout 'poses a safety threat'

    However, those who teach Junior Reserve Officers' Training Corps programs may be allowed to carry guns, according to the bill. They're going to walk out of class for 17 minutes, in solidarity with the victims of Parkland, Florida's school shooting .
  • Supreme Court allows passive euthanasia in its landmark decision

    Supreme Court allows passive euthanasia in its landmark decision

    But this can be done only after permission from all family members and a medical board created to look into the case is received. On 25 February 2014, a three judge bench had referred the plea for voluntary passive euthanasia to the constitution bench.
    Cop, Suspect Dead After Disturbing 911 Call

    Cop, Suspect Dead After Disturbing 911 Call

    Shields said officers had been searching for Waters in connection with a rape case but that it wasn't clear how he was involved. It is not yet known if the suspect died as a result of the gun battle with police or if it was self-inflicted.
    Aussies march on PyeongChang Paralympics

    Aussies march on PyeongChang Paralympics

    South Korea has so far collected only two silver medals in the past seven Winter Paralympic Games. ET Friday with the men's and women's downhill on the Olympic Channel.
  • Army on streets - Hundreds of UK troops descend after Russian spy 'poisoning'

    Army on streets - Hundreds of UK troops descend after Russian spy 'poisoning'

    Now, the investigation has moved on to trying to establish where the nerve agent came from and how it was administered. Russian Foreign Minister Sergei Lavrov dismissed Britain's warnings of retaliation were propaganda and not serious.
    No evidence meant no Mark Cuban sexual assault prosecution, DA memo shows

    No evidence meant no Mark Cuban sexual assault prosecution, DA memo shows

    When police contacted Cuban to discuss the women's allegations seven years ago, Cuban's reaction was considerably less measured. Cuban appeared drunk at the time, the woman told police in 2011, Willamette Week reported.
    Former Hollyoaks stars win an Oscar

    Former Hollyoaks stars win an Oscar

    He passed away in 2001, at which time Rachel learned sign language and even qualified as an interpreter. We should continue doing that when the world tells us to make them deeper.
  • Interviews: Alabama players react to buzzer beater win over Texas A&M

    Interviews: Alabama players react to buzzer beater win over Texas A&M

    Sexton then darted down the court and nailed a quick jumper to give the Crimson Tide a one point lead with 17 seconds remaining. The Crimson Tide outshot the Aggies 48 percent to 39 percent which ultimately proved to be the difference in the game.
    Mark Hamill bags Hollywood star, with no wars required

    Mark Hamill bags Hollywood star, with no wars required

    I shouldn't say reality show, it's more like a game show'. " Mark Hamill is a character that can't be written", Lucas said . The force is strong in Hollywood as Star Wars legend Mark Hamill received his star at the Walk of Fame in Los Angeles.
    French foreign minister in Iran amid missile criticism

    French foreign minister in Iran amid missile criticism

    A collapse of the Iran nuclear deal would be a "great loss", the United Nations atomic watchdog's chief warned U.S. The meeting Monday drew protests from a number of university students in front of the foreign ministry in Tehran.