BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
Announced this morning, the economy created 313,000 jobs in February and the unemployment rate remained unchanged at 4.1%. A key metric from last month’s report, average hourly earnings increased just 0.1% for the month and increased 2.6% year over year. While a strong headline jobs number is noteworthy, over 100k more than some expected, the muted average hourly earnings is a sigh of relief for those who have been worried about wage inflation accelerating out of control. In all, equity markets have moved higher this morning following the release of the jobs report.
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