Although the US economy is far from recovering completely since the pandemic hit a year ago, February jobs report show positive signs.
According to Bureau of Labor Statistics, “total nonfarm payroll employment rose by 379,000 in February, and the unemployment rate was little changed at 6.2 percent.”
Most of the gains occurred in “leisure and hospitality, with smaller gains in temporary help services, health care and social assistance, retail trade, and manufacturing. Employment declined in state and local government education, construction, and mining.”
Friday’s report showed that hiring also was stronger in January than initially indicated, with that month’s tally revised up to 166,000 from 49,000. However, December’s count was revised lower from a loss of 227,000 to a drop of 306,000.