113 straight months of gains.
The Labor Department reported that employers added 273,000 jobs despite coronavirus fears. Many economists feared that employers would hesitate before hiring people.
Unemployment also went down a bit, 3.5% from 3.6%
The economy has added jobs for 113 straight months.
The department also revised numbers from the previous two months. Instead of revising down the number went up 85,000 combined.
From Fox Business:
Gains took place across the board. Health care and social assistance led the way, with 57,000 positions added last month. Health care accounted for 32,000, boosted by physicians (10,000), home health care services (10,000) and hospitals (8,000). Food services and drinking also boosted the payroll number by 53,000, following a lull in job growth earlier in 2019.
Government added 42,000 jobs, following a similar gain in January, and professional and technical services increased by 32,000.
Next month might hold different numbers. United Airlines will not hire people until the end of June. Hyatt Hotels stopped hiring in some places.
But the virus hasn’t stopped everyone:
Gigi Schweikert, president of child-care franchise Lightbridge Academy, said the virus isn’t impeding hiring plans. The 1,600-employee company is looking to add nearly 400 teachers and directors this year as franchises expand near growing populations of dual-income earners.
“It’s still extremely difficult to hire,” she said. “With the unemployment rate as low as it is, there are fewer candidates who are available for the positions.”
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