Economics
U.S. Added 313,000 Jobs in February; Wage Gains Cool to 2.6%
- January pay gain that spooked markets revised down to 2.8%
- Hiring strongest since mid-2016 as participation rate surges
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The U.S. economy enjoyed the biggest hiring spree since mid-2016 in February as workers streamed in from the sidelines of the labor force, but inflation pressures remained muted amid signs the pay gains that spooked financial markets last month haven’t taken hold.
Payrolls rose 313,000 in February, compared with the 205,000 median estimate in a survey of economists, and the two prior months were revised higher by 54,000, Labor Department figures showed Friday. The jobless rate held at 4.1 percent, the fifth straight month at that level. Average hourly earnings increased 2.6 percent from a year earlier following a downwardly revised 2.8 percent gain.