“The economy remains strong, held up by a robust labor market,” wrote Christopher Rupkey, chief economist with FwdBonds, in a note Friday.
Still, Friday’s jobs report also showed that the whopping gains initially recorded for January and December were revised down by a combined 167,000 jobs.
January’s job gains now sit at an estimated 229,000 (down from the blowout 353,000); and December’s job growth at 290,000 (down from 333,000).
In February, that included construction (up 23,000 jobs); transportation and warehousing (up 19,700 jobs); and retail (up 18,700 jobs).
Friday’s jobs report showed that wage growth is indeed slowing.
Persons:
”, Christopher Rupkey, FwdBonds, “, ” Robert Frick, —, ” Diane Swonk, Swonk, February’s, ” Frick, Julissa Carielo, ” Swonk, Gus Faucher, Lydia Boussour, EY, Boussour, Janet Yellen, CNN’s Kate Bolduan, they’re, ” Yellen, Price, CNN’s Bryan Mena
Organizations:
New, New York CNN, of Labor Statistics, Navy Federal Credit Union, CNN, KPMG US, Health, Baby Boomers, Transportation Security Administration, DreamOn, Inc, Boomers, Fed, Labor, Federal, PNC Financial Services, “ Fed
Locations:
New York, San Antonio , Texas, Texas