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US added 678,000 jobs in February in sign of economic health

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KMIZ

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation. The unemployment rate dropped from 4% to a pandemic low of 3.8%, extending a sharp decline in joblessness as the economy has rebounded from the pandemic recession. The hiring figures were collected before Russia’s invasion of Ukraine, which has sent oil prices jumping and has heightened risks for economies in Europe and the rest of the world. Yet the February hiring data suggest that two years after COVID-19 sparked a nationwide shutdown, the disease is losing its grip on America’s economy. 

Article Topic Follows: AP National Business

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