US DATA: Feb employment rept remained strong, with payrolls +227k and
revsns to Dec-Jan at +61k on net. Civ unemploymt rate steady at 8.3%, as
participation rate +0.2 to 63.9%. This is all pretty much as expected,
consistent with +2%-3% GDP. Pvt payrolls +259k/avg in Q1 so far. Payroll
composition in Feb: mfg +31k (all durables), constr -13k (mainly
specialty), retail -7.4k after Jan surged +26.1k, finance +6k, temp
+45.2k, health care +49k, and govt -6k as federal fell. Hours rose & pvt
AHE +3c to +1.6% YOY, so production and incomes gained.
Details: Payrolls/Prior Pv AHE,yoy Agg Hrs Civ Unempl Rt/Unrnd
Feb +227k —- +1.60% 103.3 8.3% (8.2688%)
Jan +284k +243k +1.50% 102.7r 8.3% (8.2632%)
Dec +223k +203k —- 102.4 8.5%