Economy adds 379K jobs in first report of Biden presidency
By Niv Elis - 03/05/21 08:33 AM EST The economy added a whopping 379,000 jobs in February, a major improvement from the 49,000 jobs added the previous month and more than double the 175,000 economists predicted.
The unemployment rate fell to 6.2 percent from 6.3 percent last month, and the number of unemployed people remained similar at 10 million.
The unemployment crisis has hit some groups harder than others. While the unemployment rate was 5.6 percent for whites, it remained at 9.9 percent for Blacks and 8.5 percent for Hispanics.
The latest jobs data — covering the first full months of the Biden presidency — points to early signs of improvement for an economy still struggling to dig itself out of a deep hole amid the coronavirus pandemic. The number of unemployed people remained similar at 10 million.
The positive report could add ammunition to opponents of President Biden's $1.9 trillion COVID-19 relief bill, expected to pass in the Senate over the weekend. Critics say the stimulus is too large and risks overheating the economy.
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https://thehill.com/policy/finance/541749-february-jobs-report-biden-economy-coronavirus
