Labor Department Issues Strong February Jobs Report

The New York Times reports:

Employers added 311,000 jobs in February, the Labor Department reported Friday, continuing a hotter-than-anticipated streak that has created abundant opportunities for job seekers while frustrating the Federal Reserve in its drive to contain stubborn inflation.

The unemployment rate ticked up to 3.6 percent, still an exceptionally low level brought about both by robust job creation and workers’ slow return to the labor force after the pandemic.

The job market has remained a persistent source of dynamism in the economy even as other elements have either lost their steam or yielded to higher interest rates. The prime age labor force participation — the number of people working or looking for work — is back to 83.1 percent, the pre-pandemic mark.

Read the full article.

Total nonfarm payroll employment rose by 311,000 in February

The unemployment rate edged up to 3.6%

January hiring was revised down from 517,000 to 504,000 jobs https://t.co/qD8lbo5ZB5

— Nick Timiraos (@NickTimiraos) March 10, 2023

Jobs report shows strong 311,000 gain in February, puts pressure on Fed for bigger rate hikehttps://t.co/JCYf9gJHOs

— Wall St. Headline (@wallst_headline) March 10, 2023

Economy adds 311,000 jobs in February, reflecting ongoing labor market strength https://t.co/l1NeRgwja3

— (((TheRReport))) ? (@TheRReport) March 10, 2023