Feb Nonfarm Payrolls Surge to +273K, Jan;...>

US DATA: Feb Nonfarm Payrolls Surge to +273K, Matching Jan; Abv Exp

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-Feb Nonfarm Payrolls +273K; Unemp Rate 3.5% V 3.6% In Jan

-Jan Jobs Rev +273K (Prev +225K); Dec +184K (+147K); Net +85K

-Feb Unrounded Unemployment Rate 3.5169% Vs Jan 3.5795%

-Feb Private Payrolls +228K Vs Jan +222K; Govt +45K Vs +51K

-Feb Avg Hourly Earnings +0.3% Vs Jan +0.2%; +3.0% Y/Y

-Feb Aggr Hrs Index +0.5%; Avg Workwk +0.1 To 34.4 Hrs

-Feb Labor Force Participation Rate 63.4% Vs 63.4% In Jan

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Coronavirus impacts were not seen in this month's job report as the data 

for nonfarm payrolls was collected in the first half of the month.  

Markets had been expecting a +175K increase. December and January were 

revised up net +85K, adding to an already strong report. This month's 

gains were led by healthcare and social assistance (+57K), food services 

(+53K), government (+45K, including +7K for 2020 Census workers), and  

construction (+42K). Manufacturing jobs were up +15K. Average hourly 

earnings came in at +0.3% m/m, as expected, bringing the y/y rate +3.0%.  

Unemployment dropped slightly to 3.5%, down  from 3.6% last month, 

driven by a fall in the number of the  unemployed. The participation 

rate held steady at 63.4%.