Mon. Mar 30th, 2020

The United States creates only 20,000 jobs in February

Estados Unidos crea sólo 20.000 empleos en febrero

The employment creation fell sharply last February in United States. The forecasts indicated that there would be an increase of 180,000 in the number of new jobs, but the actual figures remained at only 20,000, according to the work Department from the USA The index of unemployment, however, fell from 4% to 3.8%.

Thanks to this increase in employment, although scarce, the labor market registers 101 consecutive months of increases, although last month marks the lowest number since September 2017.

This setback was not reflected in the spirit of President Donald Trump. In a tweet said "this is the best time I remember for American workers, we have the best economy in the world," and cited as proof to his friends of the program Fox & Friends.

The experts pointed out, however, that this contract figure, totally unexpected due to a downturn, may be a sign that the weakening of the global economy impacts the United States. But the fact that so many months of spectacular gains in previous records is a suggestion that the country is still at a good time.

Despite the slowdown, unemployment fell to 3.8% and average wages rose by 0.4% when in January it was 0.1%

The average of the salaries ascended 0.4%, when in January it had been 0.1%. This means that the annual increase remains at a percentage of 3.4%.

The fall of vertigo in the creation of employment in February offers evidence that economic growth has slowed down in this first quarter of 2019.

A few days ago it was reported that GDP grew by 2.6% in the last quarter of 2018, so the annualized figure stood at 2.9%, below the 3% minimum that Trump had promised as a result of the Massive cut in taxes.

And this week it was learned that the US trade deficit had reached a record high, touching the 900,000 million dollars, partly because of the strength of the dollar, but also as a consequence of the trade war opened by Trump.

The economists warned yesterday against a too tremendous reading. The average of the last three months reaches 186,000 new jobs, a very strong average that maintains the expansion.

This cooling of the hiring suggests that the Federal Reserve will put the brake on its plans to raise interest rates. The sectors that worked best in February at the time of contracting were the health industry and the white-collar businesses, the executives; hence perhaps the salary increase. The construction lost 31,000 jobs.

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