The larger-than-expected increase in payrolls suggested that January’s surge in hiring was not a fluke
Economists had argued that job growth in January was flattered by a host of factors, including unseasonably warm weather, annual benchmark revisions to the data as well as overly generous seasonal adjustment factors, the model the government uses to strip out seasonal fluctuations from the data. Robust consumer spending growth in January was also partially attributed to seasonal factors.
Fed Chair Jerome Powell told lawmakers this week that the U.S. central bank would likely need to raise rates more than expected. Prior to the employment report, financial markets had priced in a 50-basis-point rate hike at the Fed’s March 21-22 policy meeting, according to CME Group’s FedWatch tool. The labour market has remained tight, with first-time applications for unemployment benefits staying very low despite high-profile layoffs in the technology industry.
The unemployment rate rose to 3.6 per cent in February from 3.4 per cent in January, which was the lowest since May 1969.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
U.S. job cuts over January and February hit highest level since 2009: reportThe report showed that the tech sector accounted for more than a third of the more than 180,000 U.S. job cuts announced on Thursday
Lire la suite »
U.S. layoffs hit highest levels since 2009 in January, FebruaryLayoffs in January and February were highest since 2009, and the tech sector accounted for more than 1/3 of over 180,000 job cuts. Read on.
Lire la suite »
U.S. layoffs hit highest levels since 2009 in January, FebruaryLayoffs in January and February were highest since 2009, and the tech sector accounted for more than 1/3 of over 180,000 job cuts. Read on.
Lire la suite »
Photos released of suspect car in February sexual assault of woman offered ride homeToronto police have released photos of the car they believe to have been driven by a man accused of sexually assaulting a woman after offering to drive her home last month.
Lire la suite »
Statistics Canada to release February jobs report todayStatistics Canada is set to release its February labour force survey this morning.
Lire la suite »
Statistics Canada to release February jobs report amid slowing economy - National | Globalnews.caThe data from Statistics Canada will give an update on how the labour market is faring amid high interest rates and a slowing economy.
Lire la suite »