February jobs report: U.S. adds a whopping 273K jobs, unemployment rate unexpectedly falls to 3.5%

Yahoo Finance ^ | 3/6/2020 | Emily McCormick

[TangledUpInBlue]

The Labor Department released its February jobs report at 8:30 a.m. ET Friday. Here were the main results from the report, compared to consensus expectations compiled by Bloomberg:

Change in non-farm payrolls: +273,000 vs. +175,000 expected and 273,000 in January

Unemployment rate: 3.5% vs. 3.6% expected and 3.6% in January

Avg. hourly earnings, month on month: +0.3% vs. +0.3% expected and +0.2% in January

Avg. hourly earnings, year on year: 3.0% vs. +3.0% expected and 3.1% in January

[TangledUpInBlue]

And the market behaves irrationally.

[thefactor]

This report is looking backwards in January and February. Before COVID-19 took effect. The markets don’t care about this report any more.

[jazminerose]

Don’t panic. The dems will save us from this nightmare.

[hotsteppa]

And when the March report comes in strong what will be their excuse?

[Gay State Conservative]

The virus will have run its course in a few weeks...at least in civilized parts of the world.

[thefactor]

I'm not worried about the US. I'm worried about global supply chains that are out of our control. And I'm worried about the media making this virus into something it's not, which they are already doing.

Other than that, if you have the money, buy stocks!

[TangledUpInBlue]

That’s true. The supply chain disruption is a valid concern for US markets/businesses.

We manufacture in China as do thousands of other businesses and things have ground to a halt for the time being.

[libertylover]

Unexpectedly? Uh, Yahoo, when people have jobs they don’t need unemployment.

[SmokingJoe]

This report is looking backwards in January and February. Before COVID-19 took effect.

Chortle!
Today is the 6th of March. Are you suggesting the coronavirus attacks in the US started only 6 days ago?
You are going to have to try a bit harder to spread disinformation

The markets don’t care about this report any more.

Of course they do. In the long run, economic growth, jobless rates, total employment numbers etc etc are the only things that matter.

[TangledUpInBlue]

They should though. Covid was disrupting the supply chain dramatically during these months. Couple that with the fact that some major players have just beaten earning and issued very positive guidance, the markets should be rallying today.

Lots of bargains to be had right now.

[SmokingJoe]

We manufacture in China as do thousands of other businesses and things have ground to a halt for the time being.

Not quite.

The rush to deploy robots in China amid the coronavirus outbreak
PUBLISHED MON, MAR 2 20208:57 AM EST


Chinese companies are rushing to deploy robots and automation technology as the coronavirus spreads throughout the nation.
China has become the world’s largest market for industrial robotics and the fastest-growing market worldwide, according to the International Federation of Robotics.

https://www.cnbc.com/2020/03/02/the-rush-to-deploy-robots-in-china-amid-the-coronavirus-outbreak.html

[thefactor]

That's a silly statement.

The Dow has dropped 3,000 since February 21st. The effect COVID-19 will have on this country has only been evident for a couple weeks. And again, this isn't America's problem. Our economy is fantastic. But we are vulnerable to the global supply chain which is out of our control. We have too many factories overseas, and hopefully COVID-19 will show corporations that America is the proper place to manufacture goods.

[Trump.Deplorable]

Our economy is fantastic. But we are vulnerable to the global supply chain which is out of our control. We have too many factories overseas, and hopefully COVID-19 will show corporations that America is the proper place to manufacture goods.

---

It proves that having all your eggs in the China basket is detrimental to your business.

If China’s solution, from the poster above, is to replace their workforce with robots, we can do that here and eliminate the slow boat from China or air freight traffic expenses.

This is going to be a wake up call

[cba123]

“Today is the 6th of March. Are you suggesting the coronavirus attacks in the US started only 6 days ago?”

—

Actually, that is about right.

[SmokingJoe]

Its you ho is talking nonsense. This is whhat you posted about the February jobs report (which was excellent by the way) and I quote

"This report is looking backwards in January and February. Before COVID-19 took effect."

1. Every single jobs report is from the month, quarter or year before.
2. The coronavirus attacks in the US were in effect throughout the month of February and in China for the whole of January.
3.This jobs report is for the period that ended just 6 days ago, so it includes most of the period of the coronavirus attacks.

You wanna try again?

[MGunny]

The supply chain..Well that can resolved very easily. Produce everything here.America first..How novel is that???

[SmokingJoe]

No it isn't.

[TangledUpInBlue]

Not very realistic unfortunately.

[Leep]

“unemployment rate unexpectedly falls to 3.5%”

What did they expect it to do?

[thefactor]

I don't know what to tell you, dude, but Stuart Varney pretty much said the exact same thing this morning on a TV hit. I'll trust him before I trust you. Again, the US indicators are strong, but the global supply chain will impact our economy. But you continue to only address my initial statement, and nothing else.

The fact is most of the jobs report reflects the American economy before the stock market drop and the current hysteria over COVID-19 (both of which began around February 21st).