U.S. likely to report another month of solid hiring for Feb.
Published 9:08 am Friday, March 4, 2016
WASHINGTON — U.S. workers have been largely insulated from a global slowdown.
Job growth remains steady and wages are finally picking up — trends that will be put to the test in Friday’s employment report for February.
Economists have forecast that employers added a solid 195,000 jobs last month, up from the 151,000 added in January, according to data firm FactSet. And the unemployment rate is expected to remain at a low 4.9 percent.
Hiring by construction companies, retailers and health care providers have offset layoffs at manufacturers and fossil fuel companies – two sectors squeezed by the pressures of uncertainty in China, sluggishness in Europe, declining oil prices and a stronger dollar.
Consumers have provided the foundation for much of the job market’s improvement in what’s become something of a self-sustaining cycle. The 2.7 million workers hired in the past 12 months have bolstered spending on autos, housing and meals out. As unemployment has dropped, more companies have begun to raise pay to attract workers, thereby fueling more hiring as people’s ability to spend, invest and save has increased.