Some of the best news from the February jobs report

Reuters  Mike Blake

President Donald Trump has said that the $1.5 trillion tax-cuts will spur economic growth and boost jobs and wages. Companies have added an average of 242,000 jobs a month over the past three months, above 2017's pace of 182,000. Long-term unemployment was down by 369,000 over the past year.

Economists had expected 200,000 additions to nonfarm payrolls, with the unemployment rate falling to 4.0 percent. If not, the Fed is likely to face a single, persistent question throughout this year.

Employers added 313,000 net new non-farm jobs last month, the biggest monthly increase since July 2016, while the unemployment rate remained steady at 4.1 percent for the fifth month in a row, according to the Labor Department's highly anticipated monthly report.

But judging from recent comments, at least, it seems unlikely that the Fed will pay heed to those arguments.

New $10 Bill Honouring Viola Desmond's Courage Is Here. And It's Vertical
The bill features Viola Desmond , a human rights icon whom you might remember from a Heritage Minute (below, in case you don't). She was required to receive cosmetology training in Montreal, Atlantic City, and one of Madam C.J.

Paul Ashworth, chief US economist at Capital Economists said that he is not paying much attention to wage data.

(Kitco News) - The gold market is seeing little movement Friday, following mixed employment data of strong employment gains but weak wage growth last month. And here, too, the February numbers are in a sweet spot.

Despite all this, average hourly earnings actually came in below expectations, posting an increase of only 0.1%, with the year-on-year figure three-tenths below the consensus at 2.6%.

Wages grew 2.6% in February compared with a year before.

Supreme Court Sets Aside Kerala HC Decision, Restores Hadiya's Marriage
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For those who want a robust recovery, it's a delicate balance on wages.

In the meantime, economists are calculating how the Trump administration's decision Friday to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum might affect the job market. January saw the fastest pace of wage growth since the recession, which fuelled inflation worries on Wall Street and sparked jitters in markets on concerns that the Federal Reserve would have to step in and hasten its pace of short-term interest-rate increases (fears about runaway inflation have so far proven unfounded).

But the February numbers are a delicious sweet spot for the economy. The number of eligible people who were part of the labor force had been slipping, partly due to baby boomers heading to retirement.

Construction trades added 61,000 jobs, retail added 50,000, manufacturing added 31,000, finance added 28,000 and mining added another 9,000 positions continuing the reversal of jobs in the sector under Obama-era policies. "We still have more room to run for this expansion".

Report shows steep rise in opioid-related ER visits in Maine
Public health experts say use of the overdose antidote Naloxone, coupled with a decline in opioid prescriptions may be working. Wisconsin had the largest increase of the states measured, a 108 percent surge in emergency department utilization.

Neil Irwin is a senior economics correspondent for The Upshot.

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