The Government is lying in plain sight here…

Leave a CommentThe Government is lying in plain sight here…Economics, Government

Blah, blah, blah…

WASHINGTON (AP) — America’s employers delivered another healthy month of hiring in February, adding a surprising 275,000 jobs and again showcasing the U.S. economy’s resilience in the face of high interest rates.

Last month’s job growth marked an increase from a revised gain of 229,000 jobs in January. At the same time, the unemployment rate ticked up two-tenths of a point in February to 3.9%. Though that was the highest rate in two years, it is still low by historic standards. And it marked the 25th straight month in which joblessness has remained below 4% — the longest such streak since the 1960s.

It’s also complete tosh. In February they announced that the US economy had added 353,000 jobs in January. Today they revised that downwards…for the eleventh time. February was a step higher in growth from January, which saw a steep downward revision to 229,000, from the initially reported 353,000. Job growth in December also was revised down to 290,000 from 333,000, bringing the two-month total to 167,000 fewer jobs than initially reported.

  • Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%. Wall Street had been looking for 198,000 new jobs and unemployment at 3.7%.
  • Downward revisions to December and January reduced initial estimates by 167,000 jobs.
  • Wages rose just 0.1% on the month, one-tenth of a percentage point below the estimate, and were up 4.3% from a year ago.
  • Health care led with 67,000 new jobs. Government again was a big contributor, with 52,000, while restaurants and bars added 42,000.

More here.

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