State's unemployment rate remained unchanged at 4.8 percent in January

State's unemployment rate remained unchanged at 4.8 percent in January

State's unemployment rate remained unchanged at 4.8 percent in January

But the recovery in wages, which sparked a sell-off on global stock markets, stalled again last month.

Average hourly earnings for all private sector workers increased 4 cents last month to $26.75.

As for the jobless rate of black Americans - a statistic that President Trump has referred to often in recent months - after a sharp increase in January, that rate took a big step in the right direction in February, just off the all-time low set in December.

The economy added 313,000 jobs in February, according to the latest jobs report, a good sign for businesses, investors and people seeking work.

Annually the report said that wages increased 2.6%.

USA employers have added to payrolls for 89 straight months, extending the longest continuous jobs expansion on record.

Speculation that the central bank would upgrade its rate projections was stoked by Fed Chairman Jerome Powell when he told lawmakers last week that "my personal outlook for the economy has strengthened since December". "It's important not to be melodramatic", he said, adding, "it's bad news but we should be careful not to overstate the impact".

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Earlier this week, the average rate on 30-year fixed-rate mortgages jumped to 4.46 percent, from 4.43 percent a week earlier, marking the highest average since the beginning of 2014.

The report said 313,000 workers were added to payrolls last month - an increase of more than 100,000 than were added for January. The dollar .DXY was largely unchanged against a basket of currencies.

There is every indication the February employment figures will reflect a strong labor market. The initial wage growth figure from January was revised down a notch, too. The economy grew at a 2.5 percent pace in the fourth quarter. "We saw a flood of job seekers into the market".

Ellen Zentner, chief US economist at Morgan Stanley, agreed.

The Labor Department said on Thursday the rate of people filing for unemployment benefits in the week ending March 3 was up by 21,000 to 231,000, its highest level in six weeks.

Manufacturing added 31,000 jobs while retail and professional services added 50,000. Hiring at construction sites was likely boosted by unseasonably mild temperatures in February. Employment in the manufacturing sector, which is supported by strong domestic and worldwide demand as well as a weaker dollar, rose by 31,000. USA employers added 313,000 jobs in February, far surpassing expectations for an increase of 200,000 jobs after January's better-than-expected reading. The decline was due to a drop of 5,000 in employment. The Trade Partnership, a consulting firm, estimates that the tariffs could eliminate roughly 145,000 jobs.

Since the end of the Great Recession, manufacturing employment has risen by 1,161,000 workers, with 12.61 million employees in the sector in this report.

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