Employers in U.S. Probably Add More Than 200,000 Workers for a Third Month
Employers probably added more than 200,000 workers for a third straight month in February amid optimism about the U.S. expansion, economists said before a report this week.
Payrolls increased by 210,000 last month after rising 243,000 in January, the most in nine months, and 203,000 at the end of 2011, according to the median projection of 55 economists surveyed by Bloomberg News. It would mark the strongest three- month stretch in almost a year. The jobless rate probably held at an almost three-year low of 8.3 percent.
Bigger employment and wage gains would go further in bolstering household spending, which accounts for about 70 percent of the economy and is threatened by higher fuel costs. Federal Reserve Chairman Ben S. Bernanke said last week that while the labor market is making progress restoring the 8.7 million jobs lost as a result of the recession, it’s “far from normal.”
“There is a much more encouraging labor-market backdrop for the consumer in early 2012,” said Conrad DeQuadros, senior economist at RDQ Economics LLC in New York. “But economic growth is moderate, which leaves the unemployment rate fairly elevated by year-end, and that’s the Fed’s main focus.”