Economy again beats expectations with 311,000 jobs in February, unemployment rises to 3.6%

The economy gained 311,000 jobs in February, more than expected, in another sign that the Federal Reserve’s interest rate hikes have not substantially harmed the strong labor market.

The new figures reported by the Bureau of Labor Statistics on Friday morning provide reassurance about the strength of the economy. The unemployment rate ticked up to 3.6%, which is a low figure by historical standards, as more people entered the labor force.

The stronger jobs report shows that the central bank's rate hikes aren’t yet having the punch officials want, and it could cause the Fed to lean toward a more aggressive monetary stance at its meeting later this month.

“It’s stronger than expected, although, on a positive note, the unemployment rate edged up ... which places the Fed in somewhat of a quandary — what to do next," Brian Marks, the executive director of the University of New Haven’s Entrepreneurship and Innovation Program, told the Washington Examiner after the report was released.