Employers added 275,000 jobs across the US last month, as the labor market continues to grow at a clip in the face of the high interest rates.
Job growth exceeded expectations of 200,000 on Wall Street in February and rose from the previous month’s revised rate of 229,000.
Unemployment stood at 3.9%, according to data released on Friday morning by the Bureau of Labor Statistics (BLS), a 0.2% increase compared to January. The unemployment rate has now been under 4% for 25 consecutive months, the longest such streak since the 1960s.
Industries that saw an increase in jobs include healthcare, government employment and food services and drinking places.