FYI: In this morning’s Employment Situation Report, nonfarm payrolls expanded by 242K in February, versus 195K expected and 151K previous. Last month’s print was also revised up by 21K. Payroll figures derived from the household survey put in another very strong reading, up 530K versus 615K last month. While Mining employment fell by 19.2K (driven by declines in support services, -15.9K MoM) and Manufacturing employment declined by 16K (after a +23K reading in January), other sectors were strong. Construction added 19K, after 146K jobs created in Q4 and 15K in January. Services payrolls expanded by 245K, driven by 55K additional retail trade workers and solid prints from other sectors.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/strong-jobs-growth-but-wages-stumble/
