The US economy added 311,000 jobs in February, outpacing expectations
Mar 10, 2023, 6:43 AM | Updated: Mar 28, 2023, 5:39 pm
(Photo by Joe Raedle/Getty Images)
(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.