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Economy adds 311K jobs in February, unemployment rises to 3.6 percent
The Hill ^ | 03/10/2023 | TOBIAS BURNS

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 ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: economy; february; jobs; unemployment
Unemployment rises but on the other hand jobs added??? Things that make you go hmmm.
1 posted on 03/10/2023 6:45:56 AM PST by ChicagoConservative27
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To: ChicagoConservative27

2 posted on 03/10/2023 6:47:00 AM PST by aMorePerfectUnion (Fraud vitiates everything. )
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To: ChicagoConservative27

So say da White House and the Brandon Administration. If da RAT government and its “media” dung beetles say it, it must be true.


3 posted on 03/10/2023 6:48:03 AM PST by FlingWingFlyer ("I may be a white boy but I'm not stupid". - FJB at Black "History" event. Tell 'em Jo Jo!)
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To: ChicagoConservative27

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.


4 posted on 03/10/2023 7:00:13 AM PST by mikelets456
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To: ChicagoConservative27

As they say in Chicago politics when it comes to constituents, “Shut up and take it”.


5 posted on 03/10/2023 7:10:29 AM PST by simpson96
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To: ChicagoConservative27

jobs added

Hotels and food joints had the highest gain hello illegals.


6 posted on 03/10/2023 7:10:32 AM PST by Vaduz (LAWYERS )
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To: ChicagoConservative27

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.


7 posted on 03/10/2023 7:16:08 AM PST by volunbeer (We are living 2nd Thessalonians)
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To: ChicagoConservative27
Unemployment rises but on the other hand jobs added???

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.

8 posted on 03/10/2023 7:16:14 AM PST by semimojo
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To: mikelets456

Sshhhhhh...don’t let the pervert admin know...


9 posted on 03/10/2023 7:22:14 AM PST by goodnesswins (The Chinese are teaching calculus to their 3rd graders wh to sile ours are trying to pick a pronoun.)
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To: goodnesswins

These numbers are pure B.S. virtually impossible to find a job that pays over $14 an hour.


10 posted on 03/10/2023 7:34:06 AM PST by ThunderStruck94
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To: ChicagoConservative27

What about that mountain of Tech layoffs?


11 posted on 03/10/2023 8:37:57 AM PST by bobcat62
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To: volunbeer

Govt numbers slightly better than anonymous posters.


12 posted on 03/10/2023 1:05:46 PM PST by entropy12 (Food is most popular anxiety drug, exercise is the least popular.)
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