The US added 678,000 jobs in February, trouncing expectations as the Omicron variant receded
The labor market's rebound charged through February as the Omicron variant's spread declined and the economy reopened once more.Bureau of Labor Statistics said Friday
The unemployment rate dipped to 3.8% from 4%, according to the report, landing below the median estimate of 3.9%. That sits just above the record-low reading of 3.5% seen before the pandemic. "If we see more numbers like this moving forward, we can be optimistic about this year," Nick Bunker, economic research director at hiring firm Indeed, said."In these uncertain times, we cannot take anything for granted. But if the recovery can keep up its current tempo, several key indicators of labor market health will hit pre-pandemic levels this summer."
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