The labor market report released on Friday blew away all expectations. Job growth was reported as having risen by 313,000 in February and both January and December’s data revised upward by a total of 54,000. There was strong growth in manufacturing and construction jobs and even growth in retail, a sector that has been slow in the last two months. Temporary help increased by 27,000 which indicates companies are have trouble finding qualified workers to fill job openings.

The unemployment rate remained at 4.1% due to the 866,000 increase in the size of the workforce taking the total size to just under 162 million with those of working age not holding a job to 95 million. This drove the participation rate up to 63%. This is the highest level since 2003…

ProBank Austin Advisor – March 12, 2018