US added only 20,000 jobs last month — fewest since September 2017

 

By Lydia DePillis | CNN Business

New York (CNN Business)The US economy added only 20,000 jobs in February, a surprisingly low number that bucked the trend of huge jobs gains in recent months.

That was the fewest jobs gained in a month since September 2017.

The unemployment rate fell to 3.8%, as fewer unemployed people were looking for work. The Labor Department suggested that furloughed workers returning to work after the government shutdown also contributed to the lower unemployment rate.

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“When an economy hits full employment, job growth is non-existent.  While jobs are available, no one exists to fill them. Wage growth should be better… As far as the housing market is concerned, I don’t think it is a bad thing.  People will have more money to spend.  As far as the economy… we will not be able to produce more “things” than in prior years with jobs being unfulfilled, unless some technological change takes place that improves efficiency.”

– Real Estate consultant Jim Belfiore

 

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