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Q1 U.S. Jobs, Wages Show Solid Gains

This is a discussion on Q1 U.S. Jobs, Wages Show Solid Gains within the Current Events forums, part of the Tech Support Forum category. U.S. employers added jobs at an above-average pace for a second month on outsized gains in construction and manufacturing, showing


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Old 03-10-2017, 12:24 PM   #1
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U.S. employers added jobs at an above-average pace for a second month on outsized gains in construction and manufacturing, showing the labor market continued its steady growth in the new year.

The 235,000 increase in jobs followed a 238,000 rise in January that was more than previously estimated, the best back-to-back rise since July, a Labor Department report showed Friday in Washington. The unemployment rate fell to 4.7 percent, and wages grew 2.8 percent from February 2016.

The participation rate, which shows the share of working-age people in the labor force, increased to 63 percent, the highest since last March, from 62.9 percent. It has been hovering close to the lowest level in more than three decades.

The number of people out of the labor force, a figure repeatedly highlighted by Trump as a sign of economic malaise, fell by 176,000 to 94.2 million.

Private employment, which excludes government agencies, rose by 227,000 after a 221,000 increase the prior month.

Government employment rose by 8,000. Federal payrolls increased by 2,000 in the first full month of the Trump administrationís hiring freeze for agency employees not involved in national security. State and local agencies added 6,000.

Average hourly earnings rose by 0.2 percent from the previous month. Januaryís year-over-year increase was revised up to a 2.8 percent gain. The average work week for all workers was unchanged at 34.4 hours.
https://www.bloomberg.com/news/artic...rst-full-month

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