BUSINESS + ECONOMY

The US economy added 311,000 jobs in February, outpacing expectations

Mar 10, 2023, 6:43 AM

SUNRISE, FLORIDA - FEBRUARY 23: Job seekers stand in line at the Hyatt booth setup at the Mega South Florida Job Fair held in the FLA Live arena on February 23, 2023 in Sunrise, Florida. Close to 2,000 people attended the job fair. The unemployment rate in 2023 has fallen to 3.4%. That is the lowest jobless level since May 1969. (Photo by Joe Raedle/Getty Images)

(Photo by Joe Raedle/Getty Images)

BY ALICIA WALLACE, CNN
Digital Content Producer

(CNN) — The US economy added 311,000 jobs in February, according to the Labor Department’s closely watched monthly employment snapshot, released Friday.

That’s a pullback from the blockbuster January jobs report, when a revised 504,000 positions were added, but shows the labor market is still emitting plenty of heat.

The unemployment rate ticked up to 3.6% from 3.4%.

Economists were expecting a net gain of 205,000 jobs for February and an unemployment rate of 3.4%, according to Refinitiv.

The Federal Reserve has been battling for almost a year to slow the economy and crush the highest inflation in 40 years, but the labor market continues to defy those efforts.

This story is developing and will be updated.

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