Job growth holds steady in February
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 March 2024
⏱️ 1 minutes
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Summary
Stocks fall; unemployment rate ticks up; average pay continues to outpace inflation; Costco sales rise.
Transcript
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| 0:00.0 | This is the Marketplace Minute. |
| 0:03.8 | I'm Justin Ho. |
| 0:05.4 | Stocks closed down on Friday after the Labor Department reported that employers added |
| 0:09.6 | 275,000 jobs in February. The Dow fell 2 tenths percent, the S&P lost 2 thirds percent, and |
| 0:17.1 | the NASDAQ dropped 1 and 2 tenths percent. Most of the new jobs added last month were in |
| 0:22.0 | health care, government, and restaurants and bars, |
| 0:25.0 | also social assistance and construction. |
| 0:27.5 | The unemployment rate ticked up to 3.9%, that's a sign that the labor market is loosening up. The same report found that |
| 0:34.3 | average pay rose in February. It's up 4.3 percent compared at the same time a year ago. |
| 0:39.7 | That's more than prices have risen in the same time frame. |
| 0:43.1 | And Costco says sales rose in the most recent quarter by less than analysts expected. |
| 0:47.5 | The company says it's been lowering prices uncertain products, including sporting goods |
| 0:51.6 | and garden supplies. |
| 0:53.0 | I'm Justin Ho with the Marketplace Minute. You're going to. |
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