Excellent Exertion

February’s job report was stellar! 313,000 net new jobs, the best increase since 7/16, and upward revisions to December and January totaled 54,000. Moreover, the labor force participation rate rose from 62.7% to 63%, a rate not bettered since 3/14. That led to the labor force rising by 800,000, the largest increase since 1983, which kept monthly wage growth to a noninflationary 0.15%, and the unemployment rate unchanged at 4.1%.