Posted 3/8/2024, 2:00:00 PM
U.S. Jobs Report: Hiring Surges in February While Unemployment Rises Slightly
- U.S. economy added 275,000 jobs in February, beating expectations and showing continued labor market strength
- Unemployment rate rose slightly to 3.9% but remains below 4% for over 2 years, longest stretch since the 1960s
- Job gains were widespread across sectors like healthcare, government, food services, and transportation
- Wage growth slowed in February after strong increases recently, up 4.3% over the past year
- Signs of cooling in hot labor market as job seekers flock back in, giving employers more hiring flexibility