A weak month of job growth in February was mitigated by an unemployment rate that beat analysts’ expectations and a robust increase in hourly wages. As economic growth overall slows, market experts say these kinds of mixed signals could become more common.
Visitors to the Pittsburgh veterans job fair meet with recruiters at Heinz Field in Pittsburgh on March 7, 2019.Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.An extraordinarily weak month of job growth in February was mitigated by an unemployment rate that beat analysts’ expectations and a robust 11-cent increase in hourly wages.
“My guess is we’ll still have more months in that 150,000 to 200,000 range,” said Harry Holzer, a professor of public policy at Georgetown University. “It shows that there is still very robust job growth overall, but at the same time, there are limits.” Wright said that iCIMS, which tracks hiring activity, observed weakness in the crucial business services sector. “This suggests broader, cyclical factors,” behind slowing growth metrics. “It’s a real bellwether for what’s going on in the economy as a whole,” he said.
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