Economists and analysts continue to celebrate Friday’s jobs report, which confirmed US employers are hiring at the strongest pace in years.
In a note late Friday, Deutsche Bank’s Joseph LaVorgna wrote: “February nonfarm payrolls increased 295k after a modest 18k in downward revisions over the previous two months. Over the last three months, payrolls have risen on average 288k per month, down from 330k in January. Over the past year, we can see a sharp
acceleration in job gains. As shown in the chart below, job growth is now running at a 3.3 million annual rate; this is the strongest performance since
the 12 months ending March 2000.“
What’s more, weather was not a factor in February’s employment data, as sectors that are usually sensitive (construction, accommodation and food services) posted strong gains, LaVorgna wrote.
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