The US economy added 311,000 jobs in February, outpacing expectations | CNN Business

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The US economy added 311,000 jobs in February, outpacing expectations | CNN Business
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The US economy added 311,000 jobs in February, down from January's blockbuster total. The unemployment rate increased to 3.6%.

The US economy added 311,000 jobs in February, according to the Labor Department’s closely watched monthly employment snapshot, released Friday. That’s a pullback from the blockbuster January jobs report, when a revised 504,000 positions were added, but shows the labor market is still emitting plenty of heat. The unemployment rate ticked up to 3.6% from 3.4%. Economists were expecting a net gain of 205,000 jobs for February and an unemployment rate of 3.4%, according to Refinitiv.

” The Federal Reserve has been battling for almost a year to slow the economy and crush the highest inflation in 40 years, but the labor market continues to defy those efforts. Industries with notable job gains included leisure and hospitality, retail trade, government and health care. After being crushed during the pandemic, the leisure and hospitality has been steadily adding back employees and trying to meet increased demand from consumers shifting their spending from goods to services.

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