Pennsylvania unemployment rate dips in January; Beaver County levels still above average

Trump on the campaign trail had referred to the unemployment rate as “a phony number”, a “joke”, and “one of the biggest hoaxes in American modern politics”, claiming the actual unemployment rate is closer to 18 to 35 percent (he’s repeatedly used numbers within that range).

That report showed that the unemployment rate had declined 0.2 percentage points to 6.1 percent.

The U.S. unemployment rate dropped slightly to 4.7 percent in February as more unemployed people sought and found work.

Now, that was the January rate, and we’re talking about February jobs numbers. Jobs numbers come from interviews with employers double checked later with data from payroll tax records. On Friday, she said with the labor market “in line” with median estimates of its longer-run normal level and inflation just below 2%, “a further adjustment of the federal funds rate would likely be appropriate” at next week’s meeting. The official unemployment rate ticked marginally down, to 4.7 percent, exactly were it was in December. Mining employment reached a low as recent as October 2016. Labor force statistics were revised down in 2016 (-60,900 fewer people in December). “No real job growth”.

Trump’s goal was to add 25 million jobs over the next decade. Add to this raising consumer confidence and the elements appear to be in place to repeat the rise in labor force participation, which rose in January by 0.2 to 62.9 percent.

USA crude prices were unchanged at $49.28 a barrel, steadying after they dropped to their lowest in more than three months on oversupply concerns. Over the year, Trade, Transportation and Utilities gained 6,900 (+1.2%) jobs.

Durable goods boosted employment by 10,000, with non-durable goods accounting for the rest, according to a breakdown by industry issued by the Bureau of Labor Statistics. The construction sector recorded its largest gain in almost 10 years due to unseasonably warm weather. Over the year, Construction has added 5,300 (+3.7%) jobs.

“Great news”, Spicer tweeted before his account also retweeted a series of news articles pointing to the new jobs numbers. Over the year, Leisure and Hospitality added 7,700 (+2.2%) jobs.

Manufacturing added 28,000 jobs in February.

Employment in professional and business services continued to trend up in February (+37,000). Over the year, Other Services are up 1,300 (+1.0%) jobs. In manufacturing, the workweek was unchanged at 40.8 hours, and overtime remained at 3.3 hours. Federal payrolls increased by 2,000 in the first full month of the Trump administration’s hiring freeze for agency employees not involved in national security.