US Economy Adds 379,000 Jobs in February
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From the Left
The US added 379,000 jobs in February, signaling the recovery is finally gaining steam
The US economy added 379,000 jobs last month, far more than economists had expected, signaling the labor market recovery is finally gaining steam.
The January numbers were also revised sharply higher to 166,000 added jobs versus 49,000 initially reported.
The leisure and hospitality industry added the most jobs in February with 355,000 new positions as some restrictions to stop the spread of Covid-19 were rolled back. The sector is still recovering from a rough winter, adding back positions that were lost rather than creating new jobs.
The unemployment...
From the Right
Economy beat expectations with 379,000 jobs in February, led by rebound at restaurants and bars
The economy added 379,000 jobs in February and unemployment ticked down to 6.2%, the Bureau of Labor Statistics reported Friday, as the pandemic receded and commerce revived faster than projected.
Forecasters had anticipated fewer than 200,000 new nonfarm payroll jobs.
“In the coming weeks and months, as weather improves across the country, businesses welcome back more customers, and more vaccinations are administered, we should see a more substantial pick-up in hiring,” said Bankrate.com's senior economic analyst Mark Hamrick.
From the Center
Job growth surges in February on hiring jump in restaurants and bars
Hiring surged in February as U.S. economic activity picked up with Covid-19 cases steadily dropping and vaccine rollouts providing hope for more growth.
The Labor Department reported Friday that nonfarm payrolls jumped by 379,000 for the month and the unemployment rate fell to 6.2%. That compared with expectations of 210,000 new jobs and the unemployment rate holding steady from the 6.3% rate in January.
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