February Jobs Report Shows Another Strong Gain
Slower wage growth may give the Fed room to gently cool the economy
Job growth accelerated last month, as falling coronavirus cases brought customers back to businesses and workers back to the office.
U.S. employers added 678,000 jobs in February, the Labor Department said Friday. The gain topped economists’ forecasts for a second straight month, after employers in January shrugged off a spike in coronavirus cases and kept hiring workers. The unemployment rate in February fell to 3.8 percent.
The data was collected in mid-February, before the Russian invasion of Ukraine, which roiled global financial markets and caused a sharp increase in energy prices. Analysts say the United States is less vulnerable than Europe to the economic effects of the crisis, but warn that a prolonged conflict will have global repercussions that are hard to predict.
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