Economy adds solid 678K jobs in February, unemployment dips to 3.8%
By Sylvan Lane - 03/04/22 08:33 AM EST
The U.S. added 678,000 jobs and the unemployment rate dropped to 3.8 percent in February, according to data released Friday by the Labor Department.
Unprecedented demand for workers and resilient consumer spending helped power another strong month of job growth in February. Economists expected the U.S. to add roughly 400,000 jobs last month, far less than the actual haul in the February jobs report, and push the jobless rate to 3.9 percent.
The Bureau of Labor Statistics said the U.S. saw “widespread” job growth in February led by a surge in service-sector hiring — a promising sign for industries still recovering from the onset of the pandemic.
Leisure and hospitality employment rose by 179,000 jobs in February, led by a gain of 124,000 jobs in restaurants and bars. Professional and business services added 95,000 jobs, the health care sector added 64,000 jobs, and construction employment rose by 60,000 after staying flat in January.
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https://thehill.com/policy/finance/596834-jobs-report-economy-unemployment-inflation
