US nonfarm payrolls up a HOT 311,000 in February

Total nonfarm payroll employment in the United States increased 311,000 in February, the country’s Bureau of Labor Statistics unveiled in its report on Friday, topping market estimates. The unemployment rate grew by 0.2 percentage points from the previous month, to stand at 3.6% in February, with the number of unemployed people rising to 5.9 million. The labor force participation rate edged up by 0.1 percentage points to 62.5%. The leisure and hospitality sector saw the biggest expansion in the workforce, adding 105,000 jobs in February. The retail trade industry generated 50,000 jobs, followed by the additional 46,000 hirings in the government sector. Average hourly earnings for all employees on private nonfarm payrolls rose by $0.08 in comparison to the month before, to reach $33.09 in February, representing an annual growth of 4.6%. NN: hot Hot HOT…. the FED has got to get more aggressive. A 25 bases point increase now Looks likeĀ  50 bases points. Tuesday CPI if hot we will be off to the races.