MAGA: US economy adds 313,000 jobs in February, crushing expectations


From Yahoo: The February jobs report is out and it’s a huge beat.

In February, nonfarm payrolls grew by 313,000 and the unemployment rate held steady at 4.1%, according to the Bureau of Labor Statistics. Over the last three months, job gains have now averaged 242,000 per month. February’s payrolls gain was the largest since July 2016.

February marks the fifth-straight month the unemployment rate has been at 4.1%, which is the lowest level since December 2000. Economists had expected the report to show nonfarm payrolls grew by 205,000 during the second month of the year with the unemployment rate falling to 4%.

Wage growth was a disappointment, however, with wages rising 0.1% over the prior month and 2.6% over last year. Both numbers were well below expectations. Economists had expected the report to show that average hourly earnings grew by 0.2% over the prior month and 2.8% over the prior year in February, according to estimates from Bloomberg.

Wage figures were the biggest focus for investors ahead of this report as an acceleration in wage gains is seen as portending an increase in inflation, which could prompt the Federal Reserve to raise rates more aggressively than markets expect.

Following the report, stock futures were higher with Dow futures up 150 points, or 0.6%, while S&P 500 futures were up 0.5% and Nasdaq futures were higher by 0.6%.

And so while wages were a disappointment, a bright spot in this report was the labor force participation rate, which climbed to 63% from 62.7%, the largest increase in this figure in years.

Labor force participation has been on the decline for years in the U.S. labor market, and February’s increase shows there is still slack remaining in the labor market to draw in workers who were left behind after the financial crisis.

Jed Kolko, chief economist at Indeed, noted Friday that the employment-to-population ratio for prime age workers — or those aged 25-54 — hit 79.3% in February, the highest since the middle of 2008.

And so while January’s jobs report perhaps stoked fears in the market that a tight labor market would lead to an unwanted acceleration in inflation, the February report suggests there is still a pool of workers to be pulled into the workforce.

Neil Dutta, an economist at Renaissance Macro, said Friday that, “The February employment report was an absolute knock out with strong growth in payroll employment and a sharp increase in labor force participation.’

Dutta added that, “The pick-up in the labor force implies little need at this juncture for the Fed to speed up the pace of its rate tightening campaign. There is still room to run in this labor market recovery. The unemployment rate has been flat for the last five months. That is a good thing right now.”

By industry, construction was a standout as 61,000 jobs were created in the sector in February, the most since 2007. Manufacturing payrolls were also a bright spot, as 31,000 jobs were added to the sector in February.



16 responses to “MAGA: US economy adds 313,000 jobs in February, crushing expectations

  1. DCG . . . . This really is cause to celebrate! It wasn’t that long ago when we had thousands of folks trying to get on SS Disability because they could not get a job, and they had run out of unemployment. I think it is great that our country is ramping up once again.

    Liked by 3 people

    • Yeppers. In 2012 Stu Varney exposed the fact that Obama took thousands out of unemployment and put them into SSDI to make his unemployment numbers look better for the election. Heaven only knows how many are still in there and we are still paying for workable people.

      Liked by 2 people

  2. Reblogged this on On the Patio and commented:

    Excellent! Just excellent! Obama this.

    Liked by 2 people

  3. A new beginning and a new United States, yes, we have obstacles and hurdles and bumps along the way, and that’s how we learn to make it great again, in such a short time we have seen the Phoenix rise, slow but sure, this time it has been better than long ago, we looked high and low and when we thought it was lost, he came along, a different kind of man, not the one like we have known. That he is not perfect we all know, he is only human just like us, and so we keep on praying to the mighty God above, let us have him till his mission is done. D.J.T.

    Liked by 1 person

  4. The commie-libs keep bitching and moaning, and Trump keeps right on winning.

    As far as I am concerned, Trump it the best POTUS since Reagan.

    And if we’re lucky, the commies will mentally discombobulate themselves and might actually carry out the mass suicide protest they have been threatening to for years. 😉

    LOL – Well, there is always hope.

    Liked by 2 people

  5. good,very good,this president is working for America,but ppl still need to be awakening,i want 1,000,000 jobs/monthly,Mr.President! that chit masonic bs man obama sez we can do it…yes on destroying America ,he was the best on doing that! hope one day he and many traitors (doesnt matter,dems or reps) will go to jail! Mr Eowyn ,im not a hater,im a heater! blessing Sunday to all!

    Liked by 1 person

  6. Where can I find out what kind of jobs were created? In what fields?

    Liked by 1 person

    • Total nonfarm payroll employment rose by 313,000 in February. Job gains occurred in
      construction (61,000), retail trade (50,000), professional and business services (50,000), manufacturing (31,000),
      financial activities (28,000), mining (9,000), health care (19,000).

      Liked by 2 people

      • Problems: 1) Construction—few; 2) Retail—many: Many believe the retail apocalypse shall continue and that a large number of chains (J.C. Penney, Macy’s and Target, among them) shall go under, and, 3) Health Care: It is a service and not a goods industry—meaning that health care does not produce wealth, per se, but makes its money off the misfortunes of others.
        The same can be said, from another perspective, of finance: Webster Tarpley, for example, has called Wall Street a “casino” which benefits the few at the expense of the many.

        I believe that we must re-establish a solid base of manufacturing here in America, something President Trump is trying to do. Wheeler-Dealer that he may be, Donald Trump knows something about real wealth creation, and if he does not die or get impeached and convicted, he very well may succeed. (I hope he DOES succeed: Our Destiny depends upon it).

        But here is the real problem: The demographics are changing, and our numbers are dwindling. Thanks to abortion and contraception, there will be less consumers and hence less producers to serve the surviving.
        Somewhere, Margaret Sanger is smiling….

        Liked by 1 person

  7. Demographics are the one Elephant in the Living Room that cannot be beaten: America’s population replacement rate has fallen to where it is less than 2.2, the replacement rate any nation state needs to keep up.
    America has relied on contraception and abortion for matters of convenience and upward mobility. America has traded long-term stability for short-term convenience and cosmetic wealth.
    The current business model relies on importing immigrants to keep our population numbers up, but as the culture and the American cultural identity fade, the business model will, of necessity, fracture and break.

    Let’s face it: Americans have made it their business to contracept and abort themselves out of existence. And so it goes: You cannot have true growth—let alone true value—under a eugenic Anti-Christ system.

    Politicians, blood-sucking parasites that they are, according to the Ancient Greek etymology of the term, are always trying to convince us they make the change happen. They do not lie, they insist to us: They say things and make them happen. This, too, is a LIE: The demographics are the real dictator here. When the demographics change to a critical mass (and they shall within the next 20 years!) the real political and cultural change WILL happen. It will not be a change in the mere numbers on the graph; It will be a QUALITATIVE CHANGE upon the graphs itself. But that is what the Anti-Christ system is all about: By that time, we’ll all be dead, and the heirs to the Titanic disaster will be left to merely imagine what life was like before the Iceberg.
    Donald Trump CANNOT change the demographics. In a real world called Christendom, only the Church Unbound was able to make that happen. The British Empire model, Lyndon Larouche maintains, has not allowed that to happen—never did, never will. Hence, all we can hope for is a better situation for the next 10 years, if at all. Certainly not a better world for our grandchildren.

    Get used to the inevitable.


  8. The unemployment rate is BS. That number is nothing but the folks that are receiving an unemployement check. There a lot of people that are not working that are also not drawing unemployement pay and also not looking for a job. The labor participation rate is the REAL number that needs to be looked at.

    Liked by 1 person

  9. What a contrast to the Obama claims to have lowered unemployment, when he was simply not counting those who gave up looking, and were no longer eligible for unemployment.

    Liked by 2 people

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