BREAKING: Stunning new jobs report reveals job creation plummeting in February
As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by CNBC:
Job growth came to a near halt in February after a blistering start to the year, with nonfarm payrolls increasing by just 20,000 even as the unemployment fell to 3.8 percent.
It was the worst month for job creation since September 2017, offset somewhat by a solid increase in wages.
The article goes on to state the following:
The month fell short of the relatively modest expectations of 180,000 from economists surveyed by Dow Jones. The unemployment rate had been projected at 3.9 percent from January’s 4 percent.
The jobless rate fell in part because of the vagaries the Labor Department uses to calculate the headline rate – there was an increase of 198,000 in those considered not in the labor force, while those classified as unemployed fell by 300,000 and the ranks of the employed decreased by 45,000, according to the household survey.
The report also provided the following data:
Among major worker groups, the jobless rate for Hispanics also declined sharply to 4.3 percent from 4.9 percent in January. The rate for African-Americans rose two-tenths of a point to 7 percent, while the level for whites declined to 3.3 percent from 3.5 percent.
— CNBC Now (@CNBCnow) March 8, 2019
Job growth came to a near halt in February after a blistering start to the year, with nonfarm payrolls increasing by just 20,000 even as the unemployment fell to 3.8 percent. https://t.co/92ZZCf9DRk pic.twitter.com/5UX0t5T9dw
— CNBC (@CNBC) March 8, 2019
More on today’s jobs report:
➡️U.S. added 20k jobs. Estimates were for 180k
➡️Underemployment plunged to 7.3% from 8.1%
➡️Wages rose 3.4% (higher than expected)
➡️January jobs data revised up to 311k
Read more: https://t.co/kNFkdnN0ni
— Bloomberg Economics (@economics) March 8, 2019
Job creation grinds to a near-halt in February; wages still on the rise https://t.co/92ZZCf9DRk
— CNBC (@CNBC) March 8, 2019
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