The U.S. economy added 379,000 jobs in February, roundly beating economists’ estimates of 210,000, and indicating that one year into the pandemic, the labor market is finally showing signs of recovery.
In the first full monthly employment report under President Joe Biden, the unemployment rate fell to 6.2 percent,from 6.3 percent in January, according to data released Friday by the Bureau of Labor Statistics.
“The ship is pointed in the right direction, and the additional stimulus coming from Congress should be the wind in the sails to get the economy back on track,” said Charlie Ripley, Senior Investment Strategist for Allianz Investment Management.
The latest jobs report comes after a month of stumbles in Covid-19 vaccine deployment and frigid weather that plunged Texas and large parts of the South into a deep freeze that froze oil rigs, ruptured household plumbing and cost lives.
What Are Your Thoughts?
