The US economy added 311,000 jobs in February, the Labor Department said Friday. That’s a decrease from the January jobs report, when a revised 504,000 positions were added.
The unemployment rate rose to 3.6% from 3.4%, the source added. “The unemployment rate is up 0.2% to 3.6%, higher than forecast,” said Mark Hamrick, senior economic analyst at Bankrate. “Contributing to upward pressure here, there were more people looking for work.”
The Federal Reserve has been fighting for almost a year to slow the economy and crush the highest inflation in 40 years. Industries with notable job gains included leisure and hospitality, retail trade, government and health care.
Average hourly earnings increased 0.2% month-on-month and were up 4.6% over the year before.
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