'Unambiguously strong' February jobs report adds 678,000 jobs, lowers unemployment rate

The U.S. economy added 678,000 jobs in February, shattering Wall Street expectations as the unemployment picture also inched "closer to its pre-pandemic self," CNBC and The Wall Street Journal report.
Specifically, the jobless rate fell to 3.8 percent from 4 percent, beating estimates. As for job gains, economists had projected an increase of 440,000. February's actual 678,000 total is now the "biggest monthly gain" in job growth since July, CNBC notes.
The Labor Department in its latest report also revised the total gains for December and January to a stronger-than-initially reported 588,000 jobs and 481,000 jobs, respectively, per the Journal.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"I don't often write this, but: This was an unambiguously strong jobs report," said economist and New York Times contributor Justin Wolfers on Twitter. "Strong payrolls growth. Similar strength in the household survey. Broad-based gains. People getting back to work. Robust revisions. And signs that wage growth may not be the constraint some had feared."
Wage growth was fairly flat in February, possibly a sign "inflation could be cooling," writes CNBC. It rose just 0.03 percent, compared to 0.5 percent estimates.
The leisure and hospitality sector posted the strongest gains for the month, alongside the health care, construction, and retail sectors, among others, per CNBC.
"The trend for jobs is clearly upward after a wintertime surge of omicron cases, while exacting a large human toll, left little imprint on employment," CNBC writes.
The labor force also grew by 304,000 in February, with the share of people either employed or looking for work rising from 62.2 percent to 62.3, notes the Journal.
"If we see more numbers like this moving forward," said Nick Bunker, an economist at employment site Indeed, "we can be optimistic about this year."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.
-
The secrets of lab-grown chocolate
Under The Radar Chocolate created 'in a Petri dish' could save crisis-hit industry
By Chas Newkey-Burden, The Week UK
-
Trade war with China threatens U.S. economy
Feature Trump's tariff battle with China is hitting U.S. businesses hard and raising fears of a global recession
By The Week US
-
Corruption: The road to crony capitalism
Feature Trump's tariff pause sent the stock market soaring — was it insider trading?
By The Week US
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
By Peter Weber, The Week US
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
By Justin Klawans, The Week US
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
By Peter Weber, The Week US
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US