Wednesday, 26 September, 2018

Trump Effect: 313000 new jobs in February blowing out expectations

Trump Effect: 313000 new jobs in February blowing out expectations Trump Effect: 313000 new jobs in February blowing out expectations
Kenneth Drake | 10 March, 2018, 01:44

The overall jobless rate was unchanged from December and MA remained more than a half percentage point below the USA unemployment rate.

Bottom line: The US economy promises to keep adding jobs this year without overheating, lessening the risk of interest rate hikes by the Fed that could slam stocks. But the still slow growth in wages implies that while people who were on the margins are returning to work, the jobs being created are still lower wage.

The unemployment rate is still at a 17-year low of 4.1% and the labor-force participation rate rose.

Employment in February rose in construction, retail trade, professional and business services, manufacturing, financial activities, and mining, according to the report.

(Kitco News) - The gold market is seeing little movement Friday, following mixed employment data of strong employment gains but weak wage growth last month.

Pennsylvania's nonfarm jobs count decreased 6,300 from a record high in December to 5,987,300 in January, the first decline following nine consecutive monthly gains. The U-6, or the underemployment rate, was unchanged at 8.2 percent. Last month, a jump in hourly pay sparked a global stocks selloff.

PNC chief economist Gus Faucher said the report was more proof that the job market is tightening, putting pressure on employers to increase wages.

The public sector gained 26,000, with hiring added in education and at the state government level.


The figures from the labor department smashed the 200,000 forecast from economists. The February bounty suggests there are still enough underemployed folks out there to ensure that companies, industries, and indeed the entire economy can continue expanding.

The number of discouraged workers or those marginally attached the labor market - such as people working part time who want a full-time position - fell 149,000 from a year earlier to 373,000.

"That's the way the Fed is likely to see it too".

Annually the report said that wages increased 2.6%.

In January, wages picked up a rate unseen since 2009.

The economy has expanded for 104 straight months, or almost nine years, the third-largest expansion on record, and hiring often declines as recessions fade further into the past.

"The upturn in the USA labor market will continue, with the effect of the tax reform, the weak US dollar, interest rates are still low, and I expect more investment", said Dirk Chlench, head of bond research at Landesbank Baden-Wuerttemberg.

Gene Peters, chief executive of Rosnet, a restaurant software company, has had to offer higher pay to attract new workers.

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