According to the Labor Department, helping to quench inflation uncertainty, the United States economy far exceeded expectations by adding 313,000 jobs in February 2018, while the unemployment rate remained steady at just above four percent. A benefit of living in the United States includes the many job opportunities that are available. GCLExperts helps foreign nationals to qualify for the Green Card Lottery.
Unemployment number reduced by 653,000
Reuters did a survey of economists who said they expected a payroll increase of 200,000 and the unemployment numbers to decline to four percent. The rise in the workforce participation percentage to its highest rate since September helped keep the unemployment rate even, as the number of those not in the labor force was reduced by 653,000 to a little more than 95 million.
Those “employed” in the household survey increased by 785,000 to reach a record number of 155.2 million. According to Greg Peters, a senior investment officer at PGIM Fixed Income, “The underlying economic growth is quite strong, but there’s no real pressures from a wages and inflation standpoint. It’s very good for risk assets.” Construction jobs in the USA, leading the way, had 61,000 new jobs, followed by business services and retail and professional with 50,000 each, manufacturing adding 31,000, and financial services with a total of 28,000.
The vice president of investment strategy at E-Trade, Mike Loewengart, said the US job increase streak remains the same, and it’s placing an accent on what has been an incredible beginning to the year. With GCLExperts, you will have complete access to advisers who will guide you through the Green Card Lottery application process.
- Jobs Added