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U.S. Jobs Engine Braces for Virus Hit After Steady February

  • Transportation, hospitality positions are particularly exposed
  • Effects may begin to show in March, April employment reports
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Peak Virus Hit to Labor Data Is Still Six Weeks Away: BNY’s Levine
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America’s streak of robust job gains is being threatened by a spreading coronavirus that’s roiling financial markets and may exact a growing toll on the U.S. economy.

Friday’s employment report is projected to show payrolls increased 175,000 in February, below January’s pace but in line with the average of the past year, according to a Bloomberg survey of economists. The unemployment rate is seen holding near a 50-year low as wages keep marching higher.