The job gains came in lower than January’s eye-popping numbers, but reflecting ongoing resilience in the labor market, fueled by surging consumer demand in a variety of industries, especially leisure and hospitality and health care.
The resilient labor market comes as a blessing for many workers, affording many the ability to switch into better jobs and negotiate raises over the past year and a half. Average hourly wages rose by 0.2 percent between January and February. Overall pay is up 4.6 percent from a year ago, to an hourly average of $33.09 an hour.
“There are reasons to be just bullish about the strength of the U.S. consumer propping up job growth for the foreseeable future,” said Julia Pollack, chief economist at Zip Recruiter. “Business-to-consumer companies are doing extremely well. Everything from hair salons to pizza shops.”Despite the robust labor market, many workers are still struggling to make ends meet with prices that are growing at a faster clip than wages.
Wake up! The consequences of the wasteful dumping of trillions of dollars into an economy well on its way to a covid recovery: Inflation is at +40-year highs, the stock market is collapsing, banks are facing insolvency, and the Fed is trying to put a lid on job growth. Not Good!
Let’s go Brandon!
So people are getting second or third jobs to be able to live.
Are they jobs paying a livable wage? Is that an important question to ask?
🤔
That is NOT what it reflects…NOT even close…don’t y’all have people to ask before you embarrass yourself…sycophants spew propaganda and talking points, journalists ask questions and report. It is obvious what the ComPost has become
You are kidding yourselves. You see that downturn in the money supply? That is the result of the sharp interest-rate hikes. Yes, it was necessary, but it will cause a sharp recession in the near future.
Biden got minimum wage jobs for the 300,000 he let illegally cross our Borders last month. US Labor Participation Rate is unchanged.
Dam you POTUS, how are Republicans supposed to run on the economy when your administration keeps creating jobs
And added proof that whoever this writer is, did not attend Econ 101. This is NOT a 'strength in the labor market'. It's a lack of a labor market due to Bidenflation caused by stupid energy policies.
Feds: *try to trigger a recession to undermine the labor market The labor market:
February marked the 26th straight month of job growth, according to data released Friday from the Bureau of Labor Statistics. The recent uptick in jobs could spur the Federal Reserve to raise interest rates more sharply.