Job growth in February slowed to just 20000 new hires


MA added 11,400 jobs in January as the unemployment rate held steady at 3.1 for the fourth consecutive month, according to figures released Friday by the state's Executive Office of Labor and Workforce Development.

The unemployment rate, meanwhile, decreased slightly from 3.9 percent to 3.8 percent. "I think the big news, really, was that wages went up".

And it supports what Powell on Friday called the Federal Reserve's "patient, wait-and-see approach to considering any adjustment in the stance of policy".

And there were no hires in February to work America's in leisure and hospitality - a stunning halt after January's gain of 89,000 jobs.

The jobless rate for Hispanics fell to 4.3 percent from the January number of 4.9 percent, while the rate for African-Americans went up two-tenths of a point to seven percent.

Ian Shepherdson, chief economist for Pantheon Macroeconomics, said that the expectation for 180,000 new positions in February was too high because the figures at the beginning of the year doubled-counted government workers who took second jobs during the US Government shutdown.

February jobs report—What to know in markets Friday

US hiring was the weakest in more than a year while wage gains were the fastest of the expansion and the unemployment rate fell, a possible sign that America's jobs engine is starting to slow down.

CFRA Research Investment strategist Lindsey Bell, BMO Capital Markets chief investment strategist Brian Belski and Ladenburg Thalmann Asset Management CEO Phil Blancato on the release of the Federal Reserve's Beige Book and the state of the USA stock market.

Addressing reporters outside the White House later, Trump said the number of new jobs "averages out" with the report's positive information.

Julia Pollak, a labor economist at jobs marketplace ZipRecruiter, said many companies are becoming increasingly hungry for workers.

Average hourly earnings for private workers rose 0.4 per cent from the prior month, topping estimates, following a 0.1 per cent gain. But the unemployment rate fell to 3.8 percent from January's 4 percent, and earnings growth picked up.

That said, I expect a strong gain in payrolls of 190,000 and expect to see the unemployment decline to 3.8 percent. The diffusion index of manufacturing employment, which measures the proportion of industries that showed job gains during the month, fell to 51.3 in February. There were also job losses in the utilities as well as transportation and warehousing industries.

More news: Akash Ambani-Shloka Mehta wedding celebration Day 2 LIVE UPDATES