County loses 20500 jobs in January

County loses 20500 jobs in January

Troy Powers
March 10, 2018

"We saw a flood of job seekers into the market".

In the strongest showing since July 2016, the unemployment rate in the United States remained low in February as USA employers added 313,000 jobs to the economy.

Job creation in the USA economy surged last month, but the annual rate of wage growth slowed.

The unemployment rate in MA held steady at 3.5 percent in January while preliminary estimates show the state lost more than 6,000 jobs during the month.

The U.S. economy reported a better-than-expected job report on Friday, sending the U.S. stocks higher.

It turns out that this is due to the way the jobs numbers are gathered and how the days of the week fell this year during a short month. The three-month average, considered a more reliable gauge of the job situation than month-over-month changes, is now 242,000.

Jobs in primary metals and fabricated metal products, which include steel production, grew faster than the economy as a whole in the past 12 months, at 3.8% and 3.7%, respectively, creating about 66,400 jobs.

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"Consumer confidence is at an 18-year high".

Trump had taken to celebrating the continuing decline in black and Hispanic unemployment, often implying that the record lows were a function of his efforts.

Analysts were also closely watching wage growth, which senior economic analyst Mark Hamrick said is the most important aspect of the report. But it's a volatile measure. It's the lowest unemployment rate in 17 years. Hispanic unemployment is still near its low. That pushed the labour force participation rate up 0.3 percentage point, to 63 percent. That's where it was in February.

One of the longer-term questions is how continued unemployment will affect wages. It suggests that employers are filling jobs not merely from people they've poached from competitors, but also from more people who have entered the work force.

Average hourly earnings for all employees on private payrolls rose by 4 cents to $26.75 in February, following an 7-cent gain in January.

Over the past year, the total number of nonfarm jobs in Pennsylvania increased 1.1 percent. "On balance, developments since December generally reinforce my view of the need for somewhat more removal of accommodation", he said. At the same time, other information released by the government this week showed initial jobless claims still near their lowest level in nearly 50 years, suggesting layoffs are down and employers are trying to hold on to their workers.

That's good news. Everything above is good news.