Massachusetts Adds 11400 Jobs in January

February jobs report—What to know in markets Friday

The U.S. economy added only 20,000 jobs in February, significantly less than what experts predicted, while unemployment fell to 3.8 percent, according to data released Friday by the Bureau of Labor Statistics.

Home sales fell last year and price gains are slowing after the average rate on a 30-year mortgage reached almost 5 percent last year. "I think the big news really was that wages went up and that's great for the American worker".

Federal Reserve policymakers have indicated this year they won't raise interest rates again until seeing inflation advance.

And there were no hires in February to work America's in leisure and hospitality - a stunning halt after January's gain of 89,000 jobs. From 2009 to 2018, the state's economy added a total of more than 1.16 million private sector jobs.

The revision also set back the state's recovery of jobs lost during the 2008-2010 recession.

Job creation ground to a virtual halt in the United States last month as employers in a range of industries began to shed workers-but the unemployment rate fell, the USA government said yesterday.




While unemployment dropped to 3.8%, only 20,000 new jobs were added in the month of February, the weakest month since September of 2017.

USA stocks fell when trading opened, continuing a weeklong slide. The jobless rates for adult women (3.4%), teenagers (13.4%), Blacks (7%), and Asians (3.1%) showed little or no change over the month.

The prime-age (25-54) labor force participation rate is still up 0.4 points over the past year, which has helped to arrest the downward trend in unemployment even as job growth has been robust. Manufacturing added just 4,000 jobs - far fewer than the 21,000 in January. Average hourly earnings rose a better-than-projected 3.4 per cent from a year earlier. "We expect a sharp moderation in employment growth in February to 141,000 after surprising to the upside in January with a 304,000 print", Morgan Stanley economist Ellen Zentner wrote in a note Thursday.

Rising trade tensions with China and a weakened global economy may be the reasons why the job market took a hit this month, not to mention the deep freeze in the midwest.

The unemployment rate fell 0.2 percent to 3.8 percent, the lowest level since October 2018 (and before that, April 2000). Government payrolls dropped by 5,000 jobs last month, pulled down by declines both local and state government education. There were also job losses in the utilities as well as transportation and warehousing industries.

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