The economy’s remarkably steady job-creation machine sputtered in February and produced a mere 20,000 jobs. It was the smallest gain in well over a year and came on top of other signs that the economy was off to a sluggish start in 2019.
For months, the labor market could be counted on for an upbeat counterpoint to negative developments, including a fragile global economy weighed down by trade tensions. In the United States, growth for the first quarter is expected to dance around the 1 percent bar, as the shot of adrenaline delivered by last year’s tax cuts fades.
Carl Tannenbaum, chief economist at Northern Trust in Chicago, said Friday’s news from the Labor Department was worrisome. “This is a disappointing report,” he said. “I don’t think there’s any way to sugarcoat it.”
But the longer-term trend is what matters, and there were competing interpretations of whether the report was a troubling omen or a fluke.
Beyond the month’s payroll figure, the report offered some unambiguously good news, including 3.4 percent year-over-year wage growth, the strongest in a decade. Revisions to previous months’ estimates added 12,000 jobs, bringing the average gains for December, January and February to 186,000. The official jobless rate fell to 3.8 percent, from 4 percent in January.
A broader measure of employment that includes part-timers who would prefer full-time work and those too discouraged to search fell to 7.3 percent from 8.1 percent. “That’s a year’s worth of improvement in one month,” said G. Scott Clemons, chief investment strategist at the private bank Brown Brothers Harriman.
Aftereffects of the government shutdown and wretched weather may have contributed to anomalies in the report. “This is the strangest jobs report I’ve seen in a long time,” Mr. Clemons said. “It’s bizarre. I can’t help but think there is noise in there.”
During the decade-long expansion, the economy has churned out 20 million jobs. The anemic job creation and rising wages could indicate that the pool of available workers was drying up, and employers were having trouble filling openings.
“The real challenge is the shortage of people,” said Tom Gimbel, chief executive of LaSalle Network, a staffing firm in Chicago. He said he speaks to roughly two dozen hiring managers and chief executives every week, and everyone is bullish. “I haven’t had anybody in 2019 tell me that they’re not going to be adding head count,” he said.
But the combination of the payroll news with the prospect of torpid first-quarter growth and stubborn trade disputes cannot be brushed off, said Mr. Tannenbaum, the Northern Trust economist. “It’s a signal we need to be cautious with the U.S. economic outlook,” he added.
On Wall Street, the S&P 500 was down roughly 0.2 percent on Friday. It was the fifth straight decline for the index, a marked slowdown after the first two months of the year.
The labor report could reflect some of the confusion and delays prompted by the 35-day partial government shutdown, which extended through most of January.
Furloughed federal workers and affected contractors had to scrounge for part-time work when their paychecks were halted. Those circumstances were reflected in January’s report, which showed that the number of workers who snagged part-time jobs for economic reasons jumped by nearly half a million and those temporarily unemployed rose by roughly 175,000.
“They now have paychecks and don’t need to drive Uber to make ends meet,” said Diane Swonk, chief economist at the accounting firm Grant Thornton.
The shutdown also postponed hiring both within the government and in the private sector, in part because the federal electronic service that verifies the employment eligibility of prospective workers — E-Verify — was not operating. Some of those hires, particularly in the public sector, may be in the pipeline. Government payrolls — federal, state and local — were down by 5,000.
Delays in income-tax refunds may also have had an impact, if people held off with discretionary purchases, Ms. Swonk said. The leisure and hospitality showed no growth.
Some of the layoffs that big retailers like Gap, JCPenney, Sears, Dollar Tree and Abercrombie & Fitch have announced may be starting to trickle through as well, with a drop of 6,100 in the retail sector.
In addition, the construction industry, which is closely linked to weather conditions, shed 31,000 jobs last month.
Outside of the government’s report, signs of employer confidence were still evident.
“I’ve been in this business over 40 years, and February always presents kind of a pause,” said William H. Stoller, chairman and chief executive of Express Employment Professionals, which is based in Oklahoma City. He compared it to taking a breath during a marathon, before a second wind kicks in. “I don’t see it hitting the wall at all at this point,” he said.
Other recruiting and employment professionals also expect the labor market to regain its momentum. Bill Ravenscroft, a senior vice president at the staffing firm Adecco, pointed to a growing willingness to convert temporary workers into full-time staff members. The high rate of conversion, he said, shows there is little concern that layoffs will be needed down the road.
With job postings outpacing applicants, Adecco has started to offer daily pay to lure more people into the pool of potential workers. Many job seekers can’t wait two weeks for the paychecks, Mr. Ravenscroft said. Now, “if you log eight hours that day, you get paid for it.”
Sanford Health’s weight-loss and lifestyle program, Profile, has been on a hiring binge, said Nate Malloy, Profile’s chief executive. He said he expected 100 new locations, many of them franchises, to open this year. “We’re adding around 50 to 100 employees a month” across locations, he said. Most are health coaches, with starting wages of to an hour.
As has been the case throughout the recovery, job opportunities can vary widely by region. Hard-pressed rural areas have experienced the slowest growth in employment, yet residents are often unable or unwilling to abandon their homes and move to other areas.
The job growth reflected in the monthly reports is spread relatively evenly across large urban areas, but the Brookings Institution’s Hamilton Project found that “rural counties — the majority of which were already struggling — seem to be increasingly left behind with employment barely growing over the last five years.”
Nationwide, though, employers talked about their hiring plans.
Ace Hardware, a cooperative of independently owned and operated hardware stores, expects an additional 160 stores will open this year, creating 2,500 jobs, said Kane Calamari, the company’s personnel chief.
Of the 681 employers surveyed last month by Vistage, an association of small-business owners and executives, nearly 60 percent said they planned to increase their total staff over the next 12 months. That share is down from last year, said Joe Galvin, Vistage’s chief research officer, but is still strong.
And on Twitter, President Trump continued to be an enthusiastic cheerleader for the economy. Shortly after the report’s release Friday morning, he cited a Fox News commentator’s observation that United States has “the strongest economy in the world,” writing, “So true!”
Matt Phillips contributed reporting.B:
高清跑狗图2015记录123【刀】【光】【如】【魅】，【这】【抹】【刀】【光】【的】【出】【现】【瞬】【间】【分】【割】【了】【整】【战】【场】，【刀】【光】【如】【夺】【命】【死】【神】【一】【般】，【让】【无】【数】【黑】【影】【折】【戟】【在】【这】【把】【刀】【光】【之】【下】。 【战】【场】【上】【所】【有】【人】【都】【被】【这】【突】【如】【其】【来】【的】【刀】【光】【惊】【得】【愣】【住】，【他】【们】【立】【在】【原】【地】，【不】【知】【所】【措】，【他】【们】【想】【知】【道】，【发】【出】【这】【抹】【刀】【光】【的】【主】【人】【是】【谁】。 “【这】【是】，【什】【么】【刀】【法】！” 【绝】【城】【眼】【角】【跳】【动】【的】【说】【着】，【刚】【刚】【那】【抹】【刀】【光】【不】【是】【奔】【向】【他】【的】，【而】
【第】2215【章】 “【可】【以】【啊】，【你】【等】【我】【一】【会】【儿】【啊】！”【慕】【丹】【珠】【连】【忙】【坐】【起】【来】，【清】【醒】【了】【之】【后】【就】【问】【道】：“【爷】【爷】，【她】【的】【生】【辰】【八】【字】【是】【多】【少】？” 【君】【老】【爷】【子】【连】【忙】【报】【了】【过】【去】，【慕】【丹】【珠】【按】【照】【生】【辰】【八】【字】【来】【卜】【卦】。 【发】【现】【在】【西】【南】【方】【向】，【然】【后】【又】【问】【道】：“【爷】【爷】，【人】【大】【概】【在】【西】【南】【方】【向】，【具】【体】【位】【置】，【我】【还】【不】【知】【道】，【所】【以】【爷】【爷】，【你】【说】【个】【字】【吧】，【我】【来】【测】【一】【下】
【这】【都】【哪】【儿】【跟】【哪】【儿】【啊】？ 【木】【槿】【才】【刚】【在】【她】【手】【里】【死】【里】【逃】【生】，【并】【且】【又】【被】【她】【洞】【悉】【了】【武】【青】【琼】【身】【上】【这】【么】【大】【的】【一】【个】【秘】【密】…… 【现】【在】【武】【昙】【找】【来】，【难】【道】【不】【该】【是】【对】【武】【青】【琼】【发】【难】【找】【茬】【的】【么】？ 【这】【怎】【么】—— 【又】【扯】【到】【贵】【妃】【身】【上】【去】【了】？ 【木】【槿】【觉】【得】【自】【己】【的】【脑】【子】【可】【能】【是】【不】【太】【够】【用】【了】，【无】【措】【的】【站】【在】【那】【里】，【面】【色】【僵】【硬】【的】【不】【知】【如】【何】【是】【好】：“【二】【小】【姐】……
“【好】【久】【不】【见】【啊】。”【苏】【青】【时】【如】【往】【常】【一】【样】【没】【心】【没】【肺】【的】【坐】【在】【水】【堆】【里】，【这】【不】【是】【她】【第】【一】【次】【在】【睡】【梦】【中】【来】【到】【这】【里】，【从】【前】【她】【以】【为】【是】【梦】，【但】【经】【过】【几】【次】【之】【后】，【这】【里】【好】【像】【是】【除】【了】【梦】【境】【与】【现】【实】【的】【其】【他】【空】【间】。 “【今】【晚】，【你】【动】【了】【杀】【念】。” 【她】【若】【无】【其】【事】【的】【点】【头】，【但】【放】【在】【膝】【盖】【上】【的】【前】【头】【慢】【慢】【握】【紧】，【不】【可】【否】【认】，【确】【实】【如】【此】，【而】【且】【这】【次】【她】【产】【生】【了】【从】【未】【有】【过】
【不】【只】【是】**，【就】【连】【吴】【奎】，【都】【下】【意】【识】【的】【心】【中】【一】【惊】。【他】【感】【受】【得】【到】，【方】【才】，【这】【个】【少】【年】，【仅】【仅】【是】【释】【放】【出】【了】【一】【缕】【杀】【意】！【一】【缕】【冰】【寒】【到】【极】【致】【的】【杀】【意】！【他】【们】【都】【是】【刀】【口】【舔】【血】【的】【大】【盗】，【杀】【人】【无】【数】，【可】【是】，【这】【一】【缕】【杀】【意】，【却】【让】【他】【都】【心】【惊】，【彻】【骨】【深】【寒】。【这】【只】【能】【说】【明】【一】【点】，【眼】【前】【这】【个】【年】【轻】【人】，【杀】【人】【之】【数】，【远】【远】【在】【他】【两】【兄】【弟】【之】【上】，【已】【经】【到】【了】【另】【一】【个】【层】【次】！高清跑狗图2015记录123【莫】【正】【山】【优】【雅】【的】【坐】【姿】，【在】【沙】【发】【上】【边】【啃】【着】【苹】【果】【边】【看】【着】【白】【佳】【晨】【说】【道】。 【不】【是】【他】【不】【够】【贴】【心】，【而】【是】【白】【佳】【晨】【坚】【持】【要】【自】【己】【吃】【饭】，【所】【以】【他】【只】【能】【在】【一】【边】【看】【着】。 “【哦】！”【白】【佳】【晨】【又】【继】【续】【垂】【头】【吃】【饭】，【边】【吃】【她】【边】【回】【忆】【着】【和】【方】【氏】【见】【面】【的】【经】【过】，【她】【也】【很】【想】【知】【道】，【到】【底】【是】【谁】【推】【了】【她】… 【而】【方】【氏】，【此】【时】【已】【经】【坐】【到】【了】【回】【老】【宅】【的】【车】【上】，【今】【晚】【她】【必】【须】【让】【言】【明】
【任】【小】【粟】【看】【着】【鼻】【青】【脸】【肿】【的】【秦】【笙】，【心】【中】【有】【些】【哭】【笑】【不】【得】，【甭】【管】【秦】【笙】【承】【不】【承】【认】，【他】【都】【明】【白】，【前】【两】【天】【翻】【进】【院】【子】【里】【的】【人】，【一】【定】【是】【眼】【前】【这】【个】【和】【自】【己】【同】【龄】【的】【少】【年】【骑】【士】。 【只】【是】【任】【小】【粟】【疑】【惑】【道】：“【你】【怎】【么】【跑】【来】61【号】【壁】【垒】【了】【啊】？” “【奥】，”【秦】【笙】【一】【本】【正】【经】【的】【解】【释】【道】：“【我】【们】【组】【织】【有】【个】【规】【矩】，【成】【为】【骑】【士】【之】【后】【必】【须】【在】【集】【镇】【上】【待】【一】【年】，【因】【为】【我】
【第】【九】【十】【五】【章】 【雨】【渐】【渐】【停】【了】，【瓦】【片】【上】【残】【留】【的】【雨】【水】【顺】【着】【屋】【檐】【一】【滴】【一】【滴】【落】【下】【来】，【溅】【在】【屋】【前】【的】【小】【水】【洼】【上】，【绽】【成】【一】【朵】【朵】【晶】【莹】【的】【水】【花】。 【甘】【罗】【踏】【出】【水】【榭】，【远】【望】【夕】【阳】【如】【血】，【安】【邑】【城】【上】【空】【的】【乌】【云】【还】【未】【散】【去】，【犹】【如】【一】【头】【黑】【龙】【盘】【踞】【在】【城】【头】，【让】【人】【感】【到】【压】【抑】。 【破】【城】【的】【第】【三】【天】【夜】【晚】，【蒙】【骜】【决】【定】【召】【集】【各】【位】【将】【军】【来】【举】【行】【庆】【功】【宴】。 【得】【知】【这】【个】【消】