U.S. job market looked robust before virus outbreak escalated

The Labor Department said Friday that the unemployment rate fell to 3.5% last month, matching a 50-year low, down from 3.6% in January.

"The outbreak will likely lead to postpone some hiring plans or even shed jobs if the situation worsens," said Lydia Boussour, senior U.S. economist at Oxford Economics. Manufacturing added 15,000, reversing a sharp loss in January. The gain may not be replicated in the coming months because of supply chain disruptions in China. Last month's totals include 7,000 temporary Census jobs that were created to help compile the 2020 count.

Widespread layoffs can transform slowdowns in just one or two sectors -- the travel industry, say, or manufacturing -- into a full-blown downturn for the overall economy. When workers lose jobs and pay, they typically cut spending. Their friends and relatives who are still employed grow anxious about their own jobs and wary of spending freely, a cycle that can trigger further job cuts.

'looked' robust? Seriously? Thanks to President Trump the U.S. economy was indeed robust, and therefore well positioned better than any other country's economy to weather this storm. youpeople are worthless hacks.

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