February’s net job growth was a shockingly strong 273,000, with upward revisions totaling 85,000 for December and January. Add an increase in the workweek and in pay of 0.3% each, and all looks well. But the survey only includes the first half of February, when equities were dazzling, the weather was spectacular, causing a surge in construction employment, and the Coronavirus was confined to China. March is what matters now.