U.S. employers added a whopping 678,000 jobs in February, according to BLS data released Friday. This was significantly higher than the 423,000 jobs economists expected.
There were a total of 150.5 million people employed as of February, up 19.9 million from the pandemic-era low in April 2020.
February’s strong report follows January’s blowout jobs report.
All of this data comes as some analysts warn about the rising risk of an economic recession.
Yes, the economy faces a handful of headwinds. Inflation is high, and it threatens consumer purchasing power and corporate profit margins. The Fed says it will fight inflation by raising interest rates, but this tighter monetary policy means it’s going to be more expensive to finance stuff. Meanwhile, Russia’s war with Ukraine threatens to send negative shockwaves through the global economy by sending commodity prices higher, among other things.
But there are also plenty of tailwinds. Some incredibly powerful and persistent bullish forces out there are fueling stronger economic data like Friday’s jobs report and last week’s record consumer spending report.
Below are three, which will look familiar to long-time TKer subscribers.
