Jobs report crushes expectations, wage growth slows

Jobs report crushes expectations, wage growth slows

Pennsylvania's unemployment rate held steady at 4.8 percent in January, the Department of Labor & Industry said Friday.

Hiring surged last month as US employers generated the most new jobs since mid-2016, the Labor Department said Friday, but wage growth slowed as long-awaited gains in worker pay have yet to take permanent hold.

Victoria is no longer showing the lowest unemployment rate in B.C.as the number went up again in the latest figures released by Statistics Canada Friday.

Employment in professional and business services, which tends to drive office demand, increased by 50,000 in February and has risen by 495,000 during the last 12 months.

The payrolls gain was the most since July 2016 and triple the roughly 100,000 jobs the economy needs to create each month to keep up with growth in the working-age population.

Along those lines, average weekly earnings for production and nonsupervisory employees in manufacturing rose from $891.63 in January to $900.55 in February. "Today's report shows that average hourly earnings significantly increased in February and have increased by 2.6 percent over the a year ago".

The February hiring increase kept the unemployment rate steady at 4.1 percent, where it has remained since October 2017, the Chicago Tribune reported.

Gunman takes hostages at NorCal vets home
Armoured police vehicles, fire engines and ambulances remain on the scene while the hostage situation unfolds. An employee who answered the phone said the shooter had taken three hostages but this could not be confirmed.

The state's civilian labor force dropped 4,000 over the month, to 6.414 million, after remaining unchanged for four months.

Discouraged workers are persons not now looking for work because they believe no jobs are available for them. That indicated that more people were coming off the labor-market sidelines to look for work. The unemployment rate had been expected to dip to 4.0%.

Investors welcomed the prospect of continued strong job growth and low interest rates.

So, for the first two months of the year the USA economy has added 552,000 jobs, a 20.3 percent increase from the first two months of 2017.

Employment gains were led by the construction sector, which added 61,000 jobs, the most since March 2007.

Financial activities added 28,000 jobs over the month, with gains in credit intermediation and related activities (+8,000); insurance carriers and related activities (+8,000); and securities, commodity contracts, and investments (+5,000). Government employment was up by 26,000.

December and January's job numbers were both revised upwards, going from 160,000 to 175,000 and 200,000 to 239,000 respectively. Average hourly earnings for production and non-supervisory workers, which economists say are better measured, increased 0.3 percent in February. Average hourly earnings had been expected to increase 0.2 percent in February. With those upward revisions, hiring has averaged 242,000 over the last three months.

Related News:



Most liked

Jeremy Corbyn: Labour must reject full European Union single market membership
Our party has deep roots in the Jewish community and is actively engaged with Jewish organisations across the country. Mr Corbyn confirmed he was signed up to the group without his knowledge but later exchanged messages on it.

"Avengers: Infinity War" Set To Be Longest Marvel Film Yet
The covers are cool shots of the conglomerate of heroes you will see in the second-to-last Avengers film on April 27. That leaves Thor teaming with teen Groot and Rocket Raccoon on an unknown quest, as we see in one of the new photos.

Turkey neutralises 3055 terrorist in Syria
Turkish armed forces are besieging the Syrian Kurdish-controlled district of Afrin in northern Syria, Turkey's president has said. The Turkish troops and allied militants have so far seized five of Afrin's seven urban centers, according to Anadolu.

Valve's Gabe Newell Says They're Back To Making Games
This is thanks to the investments made for Steam VR and the Vive headset, which has given the company the chance to develop their own hardware expertise.

Janhvi Kapoor resumes work after Sridevi's demise
Janhvi while in her character had striking similarities with her mother Sridevi, from her film English Vinglish . Indian cinema lost the versatile actress and gems Sridevi who breathe her last in a family function in Dubai.

Toys-R-Us making plans to liquidate USA operations
The company is also considering other options, including a potential sale in bankruptcy if possible, the source told Reuters . Toys "R' Us had a worse than expected holiday season and had already filed for bankruptcy previous year ".

Facebook, MLB agree to deal to live-stream regular season games
MLB Network plans to introduce in-game production elements specially designed for watching, sharing and interacting on Facebook . Games will be streamed on smartphones, tablets, computers and "other connected devices, including home TVs", notes Bloomberg .

Graeme Murty insists Rangers not overconfident ahead of Old Firm clash
Just three months after that 2012 win, 54-time Scottish champions Rangers were liquidated following financial mismanagement. No matter where you are on the planet, you can see what channel the Rangers - Celtic match is available on.

Super Mario Kart takes over navigation on Google Maps
Well, Google is apparently getting in on the Mario love, as it is bringing the plumber to its Maps service for a limited time. Going forward, Mario will be your companion wherever you are driving this week-school, work, restaurant-anywhere.

The unemployment rate in Canada in February fell to 5.8%
Although there was a loss of full-time jobs last month, over the year full-time employment has increased by 1.9 per cent. In Calgary, however, the unemployment rate rose slightly to 7.9 per cent in February from 7.6 per cent in January.

Ireland Team v Scotland, Saturday 2.15pm kick-off
The biggest decision facing Schmidt prior to this one was his replacement for Chris Farrell. His natural talent, however, is undoubted.

Judge to Trump: Muting, not blocking followers, may end suit
The mute solution would allow the president to not see critical tweets, while still allowing users to see and respond to his. The case raised some fundamental constitutional issues, but the use of Twitter by the president gave them a new twist.

Intelligence Chief Keeps Mum on Response to Russian Meddling
Democrats also have criticized Trump for not doing more to punish Russian Federation for its activities during the 2016 election. Russian intelligence and security services are expected to continue to probe US and allied critical infrastructures next year.

BCCI's new pay list
Two new categories have also been introduced: Category A + introduced for Senior Men and Category C introduced for Senior Women. In the A category, Mithali Raj , Jhulan Goswami , Harmanpreet Kaur and Smriti Mandhana will get Rs 50 lakh each per year.

Drunk man runs from cops, gets hit by his own vehicle
A Virginia man is "okay physically" after being run over by his own auto as he allegedly tried to evade police, authorities said. He was charged with driving under the influence of alcohol and possession of marijuana , among other violations.