Job growth accelerated in February, posting its biggest monthly gain since July as the employment picture got closer to its pre-pandemic self.
Nonfarm payrolls for the month grew by 678,000 and the unemployment rate was 3.8%, down from 4% in January, the Labor Department’s Bureau of Labor Statistics reported Friday.
The results compared with estimates of 440,000 for payrolls and 3.9% for the jobless rate. In a sign that inflation could be cooling, wages barely rose for the month, up just 1 cent an hour or 0.03%, compared to estimates for a 0.5% gain.
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