Jobs report: US payrolls rose by surprisingly strong 275K in February, unemployment edges higher
NY Post
US employers increased payrolls by 275,000 in February, blowing past Wall Street’s expectations and again proving the strength of the job market in the face of inflation and elevated borrowing rates.
The figure surpassed the 200,000 job gains economists expected for the month, and showed that January’s blockbuster 353,0000 job gains was not the one-month outlier some economists anticipated it to be.
Jobs across the health care, government and food services industries saw the strongest increase in February.
Employment across the electronics and appliance retailers decreased last month, according to the Labor Department.
Just as it has in recent months, Friday’s report proves that the job market has been resilient to stubbornly high inflation and elevated borrowing rates — stoking doubt that the Federal Reserve would consider cutting interest rates by June as widely anticipated on Wall Street.
The closely watched employment repotrt also showed that the unemployment rate ticked higher to 3.9%, breaking a three-month streak where the rate held steady at 3.7%.
