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U.S. Jobs Growth Slowed Sharply in February
The U.S. economy added only 20,000 jobs last month, well below the expected 180,000 positions, the Dept. of Labor reports.
#workforcedevelopment #economics #labor
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The U.S. economy added only 20,000 jobs last month, well below the expected 180,000 positions, the Dept. of Labor reports.
It was the smallest increase in 17 months. Growth in the manufacturing sector also slowed, but it remained positive for the 19th consecutive month.
On the other hand, job growth has now continued for 101 months. Februay’s unemployment rate fell to 3.8% from 4% in January. And the economy’s three-month rolling average, considered a more stable reflection of conditions, was a still-healthy 186,000 jobs.
Some economists say the February slowdown, coupled with sobering international economic news, signals a slowing U.S. economy. But others points to numerous factors that could mean the jobs report was an aberration, notably the aftermath of the government shutdown in January.
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