Skip to content

US Payrolls Top Estimates, Wages Cool in Mixed Signal for Fed

  • Firms added 311,000 jobs last month, 11th month above forecast
  • Fed picture muddied as central bank mulls bigger rate hike
Bloomberg business news
U.S. payrolls rose more than expected with a gain of 311,000 in February, while the unemployment rate pushed higher to 3.6 %. Bloomberg’s Michael McKee breaks down the numbers.Source: Bloomberg
Updated on

US payrolls rose in February by more than expected while a broad measure of monthly wage growth slowed, offering a mixed picture as the Federal Reserve considers whether to step up the pace of interest-rate hikes.

Nonfarm payrolls increased 311,000 after a 504,000 advance in January, a Bureau of Labor Statistics report showed Friday. The unemployment rate ticked up to 3.6% as the labor force grew, and monthly wages rose at the slowest pace in a year.