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'Unambiguously Strong': Economists React To The February Jobs Report On Twitter

The U.S. economy added 678,000 jobs in February, the Bureau of Labor Statistics reported Friday, significantly higher than consensus expectations.

The unemployment rate dropped from 4% to 3.8%, well below February 2021, when it was 6.2%.

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Job growth was widespread across sectors, but gains were particularly strong in real estate-related industries like leisure and hospitality, construction and retail trade.

Leisure and hospitality added 179,000 jobs in February, 124,000 of which were at food services and drinking places. Employment in leisure and hospitality is still down 1.5 million jobs when compared to February 2020.

The construction industry added 60,000 jobs in February after seeing little change in January. Construction employment is now only 11,000 jobs short of its February 2020 level. 

Retail trade added 37,000 jobs in February and now has 104,000 more jobs than it did when Covid-19 hit in February 2020.

Here's how economists and others reacted to February's Jobs Report on Twitter.

 

 

 

 

 

 

 

 

 

 

 

 

Related Topics: jobs reports