The U.S. added 678,000 jobs in February. It's another sign of a hot labor market

Hiring accelerated sharply last month as U.S. employers added 678,000 jobs, the largest gain since last July, as a resilient economy continues its recovery from the stubborn coronavirus pandemic.

The unemployment rate fell to 3.8% last month, from 4% in January. Job gains for December and January were also revised up by a total of 92,000 jobs.

The health outlook has improved significantly since a winter wave of infections tied to the omicron variant.

Job gains in February were widespread, with bars and restaurants adding 124,000 jobs, construction companies adding 60,000, and factories adding 36,000. The economy has now recovered more than 90% of the payroll jobs that were lost in the early months of the pandemic.