US adds only 20,000 workers in February; jobless rate at 3.8 percent


(Worthy News) – U.S. payrolls added just 20,000 workers in February, slowing sharply after outsize gains in January despite a government shutdown.

The increase reported by the U.S. Labor Department on Friday was a fraction of the average estimate of 181,000 from economists surveyed by FactSet. The unemployment rate, calculated separately, fell to 3.8 percent from 4 percent in January and compares with a nearly 50-year low of 3.7 percent in November.

Payrolls “saw a large upside surprise in January,” Zentner said before the report. “We expect some payback in February, where we look for a sharp moderation in employment growth.” [ Source: Washington Examiner (Read More…) ]

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