Posted on 03/10/2023 6:45:56 AM PST by ChicagoConservative27
The U.S. economy added 311,000 jobs in February and the unemployment rate rose to 3.6 percent, according to data released Friday by the Labor Department.
Economists had been expecting around 225,000 jobs to be added in February and for the unemployment rate to remain at 3.4 percent. Despite the strong headline jobs gain, the report showed signs labor market may finally be buckling under the pressure of eight consecutive interest rate hikes by the Federal Reserve.
Average hourly earnings—a measure of wages—rose 0.2 percent in February to land at a 4.6-percent annual increase, falling below expectations.
That means wage pressures on inflation could be easing. Prices were up 6.4 percent annually in the consumer price index (CPI) and 5.4 percent annually according to the personal consumption expenditures (PCE) price index in January.
The higher payroll numbers along with the lower level of overall employment is likely a mixed bag in the eyes of Fed officials, who’ve struck a more aggressive tone in recent weeks after the latest PCE report saw inflation tick back up.
(Excerpt) Read more at thehill.com ...
So say da White House and the Brandon Administration. If da RAT government and its “media” dung beetles say it, it must be true.
I have to add, I sell to chemical/Food and Pharma companies. We are busy, not because what government is doing but due to EU energy shortages and never ending lockdowns from China and other countries. Raw materials are being made in the USA at a rapid pace because the EU, Russia, China and other countries simply can’t make them consistently. So it’s coming here and plants are expanding rapidly....Most new equipment is on 8-24 month back log so now these companies are moving to used equipment due to availability and pricing. This is a good thing for “we the people” as manufacturing is the backbone of our economy. The reason we are growing is because the USA [simply] sucks less than the rest of the world.
As they say in Chicago politics when it comes to constituents, “Shut up and take it”.
jobs added
Hotels and food joints had the highest gain hello illegals.
Pretty much all of the numbers we get from government are about as trustworthy as the polling we get from the MSM.
Whatever supports the narrative.
Yes, and that's relatively good news.
The labor force participation number was also up which means more people are entering the workforce and looking for jobs, hence the higher unemployment number.
Sshhhhhh...don’t let the pervert admin know...
These numbers are pure B.S. virtually impossible to find a job that pays over $14 an hour.
What about that mountain of Tech layoffs?
Govt numbers slightly better than anonymous posters.
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