
The US economy pumped out a strong 295,000 net new jobs in February despite some severe weather disruptions and mounting layoffs in the oil industry, the Labor Department reported Friday.
The better-than-expected jobs number sent the unemployment rate down to 5.5 percent, from 5.7 percent previously and the lowest level since May 2008.
Hiring was strong in restaurants, health care, and administrative services, and steady in construction and retail trade.
The oil and gas industry, just beginning to cut back in the face of the crash of crude prices, shed about 8,500 jobs.
The fall in the unemployment rate to 5.5 percent, based on the often volatile household employment survey, reflected as much a surge in the number of dropouts from the labor force as it did new jobs creation.
The overall rate of participation in the workforce -- closely eyed for signs of a sustained pickup in hiring -- was barely changed at 62.8 percent.
Another sign of whether the market is tightening, the pace of wage increases, was also little-changed: at $24.78, average hourly wages were up 3 cents from January and 2.0 percent from a year ago.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:56 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 14:11 2018 Thursday ,08 November
Greek minister, Russian ambassador discuss possible investment projectsGMT 13:42 2018 Wednesday ,07 November
PM says Russian-Chinese trade turnover may reach $200 blnGMT 11:15 2018 Wednesday ,07 November
Top U.S. diplomat visits Pakistan to discuss economic cooperationGMT 13:53 2018 Thursday ,01 November
Alrosa to sell 127 large gem-quality rough diamonds at an auction in IsraelGMT 10:59 2018 Tuesday ,30 October
Trade turnover between Russia and Japan grows by over 17% in 2018Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor