New Labor Department data shows a far greater number of added jobs than expected, although the number is unlikely to remain the same.
Keeping the 50-Year Low Unemployment Low
February saw the US add 273,000 jobs for the month, far greater than the number forecasted by economists of 175,000, and additionally dropping the unemployment rate back to 3.5% which matches its lowest level in the nation in 50 years. Many speculate however, that the number is unlikely to remain the same for March.
Promises made, Promises EXCEEDED
#JobsReport pic.twitter.com/xPwUnlhBwp— America First (@AmericaFirstPAC) March 6, 2020
As the coronavirus outbreak continues to cause more panic not only in the US, but worldwide, markets have gone completely wild this week, with the Dow Jones index losing more than 900 points yesterday, negating gains from the past month.
The anxiety over the virus for both investor and consumer will likely severely affect the numbers of March, including the American economy as a whole, should Wall Street keep swinging left and right with no way to predict the potential damages.
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