February Job Growth Accelerated Up
U.S. Bureau of Labor Statistics reported 273,000 new jobs nationwide in February, nearly 100,000 more than the 20019 average monthly growth rate of 178,000 new jobs. The national unemployment rate dropped to 3.5% from January’s 3.6%. Last month, 23,000 new jobs were in professional and technical services, including 8,000 in computer systems design and related services. Unemployment in San Francisco & San Mateo Counties, at 1.8% for the latest data available (Dec 2019), was the lowest in California. For Alameda and Contra Costa Counties, it was 2.6%. Santa Clara County had 2.2%. Each were a basis point lower than the month before. Overall, our economy is much stronger than many economists had predicted.