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Financial News: U.S. Employment Jumps More Than Expected In February

U.S. Employment Jumps More Than Expected In February

03/08/2024 - 08:40:00 (RTTNews)

(RTTNews) - Employment in the U.S. increased by much more than expected in the month of February, according to a report released by the Labor Department on Friday, although the report also showed notable downward revisions to job growth in the two previous months.

The Labor Department said non-farm payroll employment surged by 275,000 jobs in February, while economists had expected employment to jump by 200,000 jobs.

However, the report also said job growth in December and January was downwardly revised to 290,000 and 229,000 jobs, respectively, reflecting a net downward revision of 167,000 jobs.

The Labor Department also said the unemployment rate rose to 3.9 percent in February from 3.7 percent in January. Economists had expected the unemployment rate to come in unchanged.

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