The growth of the US labor market in February exceeded expectations

Last month, the US added 379,000 new jobs, and the unemployment rate fell to 6.2%.

The number of new jobs in the United States increased more than expected in February, amid a slowdown in the spread of COVID-19, an acceleration in vaccination rates, and increased government assistance to areas of the economy affected by the pandemic. As Reuters reported on Friday morning, citing a report from the Labor Department, the number of jobs in the United States excluding the agricultural sector increased last month by 379,000, which is much more than the January figure of 166,000 new jobs.

Economists polled by Reuters had previously forecast that 182,000 new jobs would be added to the US labor market in February.

Although the unemployment rate fell from 6.3% in January to 6.2% in February, the real level, according to Reuters, is actually higher because some of the unemployed were classified by statistics as “employed, but absent from work.”

The new jobs are mostly in fast-growing industries that were not affected by the pandemic – such as information technology, engineering, construction, customer support, manufacturing, accounting, and finance.

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Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
Function: Chief-Editor
Ivan Maltsev

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