The United States added just 20,000 jobs in February, significantly below expectations of a 180,000 gain, and a sign that the job market might be beginning to cool. The following month, the US economy added 260,000 jobs. "The year-over-year average hourly earnings growth surpassing 3.0 per cent for the seventh straight month is good news for America's workers", he added.
USA employment has now risen for 100 consecutive months, the longest jobs-expansion streak on record. "You average the couple months together, and the jobs market is still doing well. Job growth should bounce back in March and through the rest of this year". While every now and then, we get a month that is an outlier (after growth of only 18,000 jobs in September 2017, jobs rose by more than 200,000 in each of the next two months), it would not be surprising to see weaker job growth moving forward at this stage in the business cycle, especially with the stimulatory effect of the Tax Cuts and Jobs Act wearing off.
The data can produce the occasional blip due to weather or other one-off factors and these numbers are subject to revision.
The unemployment rate fell slightly to 3.8%, the Labor Department reported Friday.
The state's private sector job count is based on a payroll survey of 18,000 NY employers conducted by the U.S. Department of Labor's Bureau of Labor Statistics. The number of job ads on its site that offer to pay for training, she said, jumped 42 percent previous year from 2017.
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Carole Witkowski, vice president of human resources at Batteries and Bulbs, said her 700-store retail chain has raised starting hourly pay for workers at its distribution center from $11 to $12, with additional raises for those working evening and overnight shifts.
CT had 0.6 percent job growth in 2018, up from 0.1 percent in 2017 and 0.2 percent in 2016, Gioia said. Others haven't worked much before and aren't always used to showing up on time regularly. The manufacturing sector followed with the addition of 600 net jobs. The state's unemployment rate remained unchanged at 3.8 percent. The unemployment drop included a new record low for Hispanic-Americans. The decline in unemployment was partly driven by furloughed federal workers getting paychecks again in February.
He also touted the drop in the jobless rate for women. These are signs that consumers and businesses are gaining confidence in the economy and the situation is not as alarming as it sounds. And Americans spent less over the winter holidays, with consumer spending falling in December by the most in five years.
"The sharp slowdown in payroll employment growth in February provides further evidence that economic growth has slowed in the first quarter", wrote Michael Pearce, Capital Economics economist, in a note. Economists have been looking for signs that wages are growing more given the low unemployment rate and employers finding it hard to fill positions.