ECONOMY/JOBS: “The pace of job creation remained robust in February as low unemployment drove up wages, evidence of continued health in the U.S. labor market that likely clears the way for the Federal Reserve to raise short-term interest rates next week.
Nonfarm payrolls rose by a seasonally adjusted 235,000 in February from the prior month, the Labor Department said Friday, and the unemployment rate ticked down to 4.7% as both workforce participation and employment rose. Economists surveyed by The Wall Street Journal had expected 197,000 new jobs and a jobless rate of 4.7% in February.
The strong hiring “will erase any lingering doubts that the Fed might not hike interest rates next week,” said Paul Ashworth, chief U.S. economist at Capital Economics, in a note to clients.”
-Ben Leubsdorf, “U.S. Added 235,000 Jobs in February; Unemployment Rate 4.7%,” The Wall Street Journal online, March 10, 2017