The latest Jobs Report from the U.S. Department of Labor far surpassed analysts’ expectations, proving that the U.S. economy is still on a strong footing, as we continue to wait and see the full effects of the ongoing coronavirus scare.
The U.S. economy added 273,000 new jobs in February, beating Wall Street expectations by almost 100k. The unemployment rate dipped back down to 3.5%, matching its lowest level in more than 50 years.
On the wage front, average hourly earnings grew by an impressive 3% over the past year. The blue-collar boom is alive and well, as February marks the 19th consecutive month that wages grew at or above 3%.
And for more good news for the U.S. economy, it was also announced that job growth for December and January was revised higher by a total of 85,000.
We continue to see robust growth in the U.S. economy and the job growth in January and February marks the strongest two-month start to the year of the Trump Administration.
Read the full Jobs Report here.