“I haven’t seen anything to indicate that there’s any impact on the labor market at this point in time,”
– Mark Zandi, Chief Economist – Moody’s Analytics
There’s been a significant amount of discussions on the Coronavirus and it’s impact relating to the economy, and the job market.
While Coronavirus has officially peaked over 90,000 cases globally many feared that both would take a major hit in Q1 2020.
Luckily there are no signs of this being the case. In fact, employment is higher than a previous Wall Street estimate for February 2020.
The Facts:
- Private payrolls rose by 183,000 in February
- Wall Street previous estimate was 155,000 – making the actual number an 18% lift over projections
- January’s number was 209,000
- February numbers are also significantly higher than the 12 month average of 154,000/mo
By Industry:
- Education + Health Services: +46,000
- Liesure and Hospitality: +44,000
- Professional Businesses: +38,000
- Construction: +18,000
- Financial Activities: +9,000
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