IVV - COVID-19 Fears Overwhelm An Excellent Jobs Report; Wait For May
NEW YORK (March 6) - The February jobs report printed at a very strong 273,000 new jobs, well above the consensus estimate of 175,000. Revisions for December (+37,000) and January (+48,000) netted 85,000 additional new jobs.
Average jobs printed strong in both the three-month and six-month average categories, as shown in our chart here:
The seasonally adjusted unemployment rate ticked down slightly, to 3.5% from 3.6% in January and down 30 bps from last year. The seasonally adjusted U-6 Unemployment, at 7.0%, was up 1/10th of a percentage point from January, and down 20