{"id":1959,"date":"2023-03-11T05:02:41","date_gmt":"2023-03-11T10:02:41","guid":{"rendered":"https:\/\/embarrdowns.com\/us-economy-beats-expectations-adding-311000-jobs-in-february\/"},"modified":"2023-03-11T05:02:42","modified_gmt":"2023-03-11T10:02:42","slug":"us-economy-beats-expectations-adding-311000-jobs-in-february","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/us-economy-beats-expectations-adding-311000-jobs-in-february\/","title":{"rendered":"US Economy Beats Expectations, Adding 311,000 Jobs in February"},"content":{"rendered":"

The U.S. economy added 311,000 jobs in February, according to the Labor Department\u2019s closely watched monthly employment snapshot released Friday.[0]<\/a><\/sup> The unemployment rate went up to 3.6%, higher than the projected 3.4%, with the labor force participation rate increasing to 62.5%, which is its highest since March of last year. According to the survey of households conducted by the Bureau of Labor Statistics to calculate the unemployment rate, there was a 177,000 decrease.[1]<\/a><\/sup> The unemployment rate, which takes into account discouraged workers and those working part-time due to economic reasons, rose to 6.8%, an uptick of 0.2 percentage points.[2]<\/a><\/sup><\/p>\n

The average hourly earnings, a gauge of wages, increased by 0.2% in February, resulting in an annual increase of 4.6%, lower than expected. Hourly earnings have increased by 4.6% since February of last year. The labor force participation rate, which is the proportion of people employed or actively seeking employment, rose to 62.5% in February from 62.4% in January.<\/p>\n

Mixed signals from the labor market have left the Federal Reserve in a tricky spot. When inflation data seemed to be decreasing in late 2022, investors predicted that the Fed would reduce its rate increase rate.[3]<\/a><\/sup> In February, the Federal Open Market Committee voted to raise the rate by 0.25%, and stated that further increases would be minimal.[3]<\/a><\/sup><\/p>\n

Nonfarm payrolls increased 311,000 in February, well ahead of the Wall Street estimate for 225,000 but still a step down from January’s 504,000.[4]<\/a><\/sup> Employment in leisure and hospitality saw an increase of 105,000, which is similar to the average of 91,000 over the past six months.[2]<\/a><\/sup> Retail experienced an increase of 50,000[1]<\/a><\/sup> An increase of 45,000 was seen in professional and business services, and the government added 46,000.[1]<\/a><\/sup><\/p>\n

Gains in employment were most notable in the leisure and hospitality, retail, government, and healthcare industries.[5]<\/a><\/sup> Information, transportation, and warehousing sectors experienced job losses.[6]<\/a><\/sup><\/p>\n

Forecasts ahead of this morning suggested that approximately 225,000 jobs would be created in the U.S. in February.[7]<\/a><\/sup> The Bureau of Labor Statistics’ new report has revealed that the domestic job market has done significantly better than expected.[8]<\/a><\/sup> <\/p>\n

There are indications that wage increases are beginning to slow down.[9]<\/a><\/sup><\/p>\n

0. <\/span>“Pulling Back the Curtain: Jobs Data Show Signs of Cooling Despite Hot Headline Growth – Ticker Tape” The Ticker Tape, 10 Mar. 2023, https:\/\/tickertape.tdameritrade.com\/market-news\/pulling-back-the-curtain-jobs-data-show-signs-of-cooling-despite-hot-headline-growth-19411<\/a><\/a><\/p>\n

1. <\/span>“Payrolls rose 311,000 in February, more than expected, showing solid growth” CNBC, 10 Mar. 2023, https:\/\/www.cnbc.com\/2023\/03\/10\/jobs-report-february-2023.html<\/a><\/a><\/p>\n

2. <\/span>“Jobs report: US economy adds 311,000 jobs in February as labor market stays strong” Yahoo News, 10 Mar. 2023, https:\/\/news.yahoo.com\/february-jobs-report-march-10-2023-124602371.html<\/a><\/a><\/p>\n

3. <\/span>“US economy added 311,000 jobs in February, exceeding expectations” NBC News, 10 Mar. 2023, https:\/\/www.nbcnews.com\/business\/business-news\/payrolls-rose-311000-february-expected-jobs-growth-stays-hot-rcna74329<\/a><\/a><\/p>\n

4. <\/span>“US Jobs Report February 2023: Payrolls Top Estimates, Unemployment Rate Rises” Bloomberg, 10 Mar. 2023, https:\/\/www.bloomberg.com\/news\/articles\/2023-03-10\/us-payrolls-top-estimates-while-jobless-rate-rises-wages-cool<\/a><\/a><\/p>\n

5. <\/span>“The US economy added 311,000 jobs in February, outpacing expectations” CNN, 10 Mar. 2023, https:\/\/www.cnn.com\/2023\/03\/10\/economy\/february-jobs-report-final\/index.html<\/a><\/a><\/p>\n

6. <\/span>“Gold price gains as U.S. jobs number beats expectations in February, but unemployment rate climbs” Kitco NEWS, 10 Mar. 2023, https:\/\/www.kitco.com\/news\/2023-03-10\/Gold-price-gains-as-U-S-jobs-report-beats-expectations-in-February-but-January-number-revised-down.html<\/a><\/a><\/p>\n

7. <\/span>“February’s Jobs Report Brings More Confusing Economic News” TIME, 10 Mar. 2023, https:\/\/time.com\/6261754\/february-jobs-report<\/a><\/a><\/p>\n

8. <\/span>“Robust job growth exceeded expectations again in February” MSNBC, 10 Mar. 2023, https:\/\/www.msnbc.com\/rachel-maddow-show\/maddowblog\/robust-job-growth-exceeded-expectations-february-rcna74324<\/a><\/a><\/p>\n

9. <\/span>“Jobs added in February slow from January, still stronger than consensus: nonfarm payrolls” Seeking Alpha, 10 Mar. 2023, https:\/\/seekingalpha.com\/news\/3946444-jobs-added-in-february-slow-from-january-still-stronger-than-expected-nonfarm-payrolls<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. economy added 311,000 jobs in February, according to the Labor Department\u2019s closely watched monthly employment snapshot released Friday.[0]<\/a><\/sup> The unemployment rate went up to 3.6%, higher than the projected 3.4%, with the labor force participation rate increasing to 62.5%, which is its highest since March of last year. According to the survey of households conducted by the Bureau of Labor Statistics to calculate the unemployment rate, there was a 177,000 decrease.[1]<\/a><\/sup> The unemployment rate, which takes into account discouraged workers and those working part-time due to economic reasons, rose to 6.8%, an uptick of 0.2 percentage points.[2]<\/a><\/sup><\/p>\n

The average hourly earnings, a gauge of wages, increased by 0.2% in February, resulting in an annual increase of 4.6%, lower than expected. Hourly earnings have increased by 4.6% since February of last year. The labor force participation rate, which is the proportion of people employed or actively seeking employment, rose to 62.5% in February from 62.4% in January.<\/p>\n

Mixed signals from the labor market have left the Federal Reserve in a tricky spot. When inflation data seemed to be decreasing in late 2022, investors predicted that the Fed would reduce its rate increase rate.[3]<\/a><\/sup> In February, the Federal Open Market Committee voted to raise the rate by 0.25%, and stated that further increases would be minimal.[3]<\/a><\/sup><\/p>\n

Nonfarm payrolls increased 311,000 in February, well ahead of the Wall Street estimate for 225,000 but still a step down from January’s 504,000.[4]<\/a><\/sup> Employment in leisure and hospitality saw an increase of 105,000, which is similar to the average of 91,000 over the past six months.[2]<\/a><\/sup> Retail experienced an increase of 50,000[1]<\/a><\/sup> An increase of 45,000 was seen in professional and business services, and the government added 46,000.[1]<\/a><\/sup><\/p>\n

Gains in employment were most notable in the leisure and hospitality, retail, government, and healthcare industries.[5]<\/a><\/sup> Information, transportation, and warehousing sectors experienced job losses.[6]<\/a><\/sup><\/p>\n

Forecasts ahead of this morning suggested that approximately 225,000 jobs would be created in the U.S. in February.[7]<\/a><\/sup> The Bureau of Labor Statistics’ new report has revealed that the domestic job market has done significantly better than expected.[8]<\/a><\/sup> <\/p>\n

There are indications that wage increases are beginning to slow down.[9]<\/a><\/sup><\/p>\n

0. <\/span>“Pulling Back the Curtain: Jobs Data Show Signs of Cooling Despite Hot Headline Growth – Ticker Tape” The Ticker Tape, 10 Mar. 2023, https:\/\/tickertape.tdameritrade.com\/market-news\/pulling-back-the-curtain-jobs-data-show-signs-of-cooling-despite-hot-headline-growth-19411<\/a><\/a><\/p>\n

1. <\/span>“Payrolls rose 311,000 in February, more than expected, showing solid growth” CNBC, 10 Mar. 2023, https:\/\/www.cnbc.com\/2023\/03\/10\/jobs-report-february-2023.html<\/a><\/a><\/p>\n

2. <\/span>“Jobs report: US economy adds 311,000 jobs in February as labor market stays strong” Yahoo News, 10 Mar. 2023, https:\/\/news.yahoo.com\/february-jobs-report-march-10-2023-124602371.html<\/a><\/a><\/p>\n

3. <\/span>“US economy added 311,000 jobs in February, exceeding expectations” NBC News, 10 Mar. 2023, https:\/\/www.nbcnews.com\/business\/business-news\/payrolls-rose-311000-february-expected-jobs-growth-stays-hot-rcna74329<\/a><\/a><\/p>\n

4. <\/span>“US Jobs Report February 2023: Payrolls Top Estimates, Unemployment Rate Rises” Bloomberg, 10 Mar. 2023, https:\/\/www.bloomberg.com\/news\/articles\/2023-03-10\/us-payrolls-top-estimates-while-jobless-rate-rises-wages-cool<\/a><\/a><\/p>\n

5. <\/span>“The US economy added 311,000 jobs in February, outpacing expectations” CNN, 10 Mar. 2023, https:\/\/www.cnn.com\/2023\/03\/10\/economy\/february-jobs-report-final\/index.html<\/a><\/a><\/p>\n

6. <\/span>“Gold price gains as U.S. jobs number beats expectations in February, but unemployment rate climbs” Kitco NEWS, 10 Mar. 2023, https:\/\/www.kitco.com\/news\/2023-03-10\/Gold-price-gains-as-U-S-jobs-report-beats-expectations-in-February-but-January-number-revised-down.html<\/a><\/a><\/p>\n

7. <\/span>“February’s Jobs Report Brings More Confusing Economic News” TIME, 10 Mar. 2023, https:\/\/time.com\/6261754\/february-jobs-report<\/a><\/a><\/p>\n

8. <\/span>“Robust job growth exceeded expectations again in February” MSNBC, 10 Mar. 2023, https:\/\/www.msnbc.com\/rachel-maddow-show\/maddowblog\/robust-job-growth-exceeded-expectations-february-rcna74324<\/a><\/a><\/p>\n

9. <\/span>“Jobs added in February slow from January, still stronger than consensus: nonfarm payrolls” Seeking Alpha, 10 Mar. 2023, https:\/\/seekingalpha.com\/news\/3946444-jobs-added-in-february-slow-from-january-still-stronger-than-expected-nonfarm-payrolls<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":1958,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1959"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=1959"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/1958"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=1959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=1959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=1959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}