America’s employers added a surprising 275,000 jobs in February, again showcasing the U.S. economy’s resilience in the face of high interest rates.
America’s employers delivered another healthy month of hiring in February, adding a surprising 275,000 jobs and again showcasing the U.S. economy’s resilience in the face of high interest rates. Last month’s job growth was up from a revised gain of 229,000 jobs in January. The unemployment rate ticked up two-tenths of a point to 3.9% but was still the 25th straight month in which it has remained below 4%.
1% from a year earlier — way down from a year-over-year peak of 9.1% in 2022 and edging closer to the Fed’s 2% target. Many Americans are exhibiting confidence in the economy through their actions: Consumers, whose average wages have outpaced inflation over the past year and who socked away money during the pandemic, have continued to spend and drive economic growth. The economy’s gross domestic product — the total output of goods and services — grew by a solid 2.5% last year, up from 1.
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