242,000 Jobs Added in February
Today’s jobs report released by the Department of Labor showed a better than expected 242,000 jobs added last month, whereas economists had estimated gains of only 195,000 jobs in February. The USA Today reports that while the jobs numbers came in higher than expected, unemployment remained steady at 4.9% and wages fell slightly.
According to The USA Today, “The labor market continues to turn in a much stronger performance than the nation’s gross domestic product, or the economy’s total output, which ticked up just 1% in the fourth quarter and is expected to rise slightly more than 2% in the current quarter. Many analysts believe employment provides a more accurate gauge of the economy than GDP, which can be tough to measure and is subject to multiple revisions.”
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