Job Growth Soars Past Expectations in February
March 6, 2020
American job growth was much higher than expected last month. The Labor Department reports that the U.S. economy added 273,000 new jobs in February, well above the 175,000 that economists had been expecting.
Unemployment came in line with estimates at 3.5 percent. Further good news came as initial reports for December and January were revised up by a total of 85,000 jobs. With the revisions, January and February are both the best month for job growth since May 2018.
Economists are concerned that this may be the strongest jobs report for some time, as the economy grapples with the impact of the coronavirus outbreak. The most recent report was too early to provide any sense of what impact the outbreak will have on the employment market, but does show that heading into the outbreak, it was in a good place.