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The United States added only 20,000 jobs last month – at least since September 2017

It was the smallest jobs that were achieved in a month since September 2017. Unemployment fell to 3.8%, as fewer unemployed were seeking work. The Ministry of Labor suggested that relocated workers who returned to work after the suspension of the government also contributed to the lower unemployment. Economists investigated by Refinitiv had expected the economy to add 180,000 jobs and said the underlying pace of employment growth was strong. So it was a big miss. The last two months only slightly revised. The number can be a sign that after 101 consecutive months of job growth, the economy goes out of available workers. There have been fewer unemployed than open jobs since June 201 8. There may also be more worrying evidence of a slowdown that has arisen in other financial data. Employers have been rocking in recent months by a volatile stock market, uncertain political environment and weakness abroad. However, it can also be a blizzard-related fluke. "This is pretty much a weather story," says Scott Brown, chief economist with investment bank Raymond James. The labor market noted that 390,000 people reported that they could not get to work due to weather, after a relatively mild January. "I wouldn't worry about the wage difference at all. I don't think it tells much about it." It is usually not a good idea to read too far into a month of payroll. The last three months still have an average of 186,000 jobs, well above the number needed to pick…

It was the smallest jobs that were achieved in a month since September 2017.

Unemployment fell to 3.8%, as fewer unemployed were seeking work. The Ministry of Labor suggested that relocated workers who returned to work after the suspension of the government also contributed to the lower unemployment.

Economists investigated by Refinitiv had expected the economy to add 180,000 jobs and said the underlying pace of employment growth was strong. So it was a big miss. The last two months only slightly revised.

The number can be a sign that after 101 consecutive months of job growth, the economy goes out of available workers. There have been fewer unemployed than open jobs since June 201

8.

There may also be more worrying evidence of a slowdown that has arisen in other financial data. Employers have been rocking in recent months by a volatile stock market, uncertain political environment and weakness abroad.

However, it can also be a blizzard-related fluke.

“This is pretty much a weather story,” says Scott Brown, chief economist with investment bank Raymond James. The labor market noted that 390,000 people reported that they could not get to work due to weather, after a relatively mild January. “I wouldn’t worry about the wage difference at all. I don’t think it tells much about it.”

It is usually not a good idea to read too far into a month of payroll. The last three months still have an average of 186,000 jobs, well above the number needed to pick up people entering the workforce.

Construction industry lost 31,000 jobs in February, probably due to bad weather. Recreational and hospitality employers do not place jobs, after having increased their salaries by 410,000 during the past year. Manufacturing turned in an anemic month after a year of strong profits. Business and professional services were the only significant category that provided jobs.

The brightest place in February’s report was the wage increase. The average hourly wage has been consistently stronger over the past few months, showing the largest annual percentage gain since 2009, at 3.4%. Some economists worry that this rate can be maintained.

“The problem is that it can be too little, too late. We are now looking for a recession that lurks around the corner,” says Lindsey Piegza, chief economist at the broker Stifel. She also said that wage gains are concentrated on a few sought-after professions such as information technology and accounting. “We see running pressures as opposed to broad pay gains.”

The number of employees who worked part-time for economic reasons fell by 837,000. This may mean that employers brought full-time people due to the difficulty of finding new employees, although the average working week decreased slightly and many federal workers returned from furlough after government shutdown.

Analysts speculated that despite unexpected wage gains, the unexpectedly weak report will strengthen the Federal Reserve’s decision to hold on to further interest rate hikes at the two-week meeting.

CNN Business & # 39; Matt Egan contributed to this report.


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