US Economy Adds 311,000 Jobs in February, Unemployment Rate Increases to 3.6%

The US economy added 311,000 jobs in February, according to the Department of Labor’s monthly employment snapshot released Friday. This figure was higher than economists’ expectations of 208,000 jobs added last month.

Leisure and hospitality, retail, health care, and government employers all saw strong hiring in February. The unemployment rate also increased to 3.6%, up from 3.4% in the prior month.

Mark Hamrick, senior economic analyst at Bankrate, said, “The unemployment rate is up 0.2% to 3.6%, higher than forecast.” Economists had predicted a net gain of 205,000 jobs for February and an unemployment rate of 3.4%, according to Refinitiv.

The strong job growth in February is a sign that the labor market remains solid even as the Federal Reserve tries to slow economic growth. This is a pullback from the blockbuster January jobs report, when a revised 504,000 positions were added.

The US economy is continuing to show signs of strength, with employers across the country adding jobs and the unemployment rate ticking up slightly. This is a positive sign for the US economy, and economists are hopeful that the job market will remain strong in the coming months.