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US Economy Added 678,000 Jobs in February, the Unemployment Rate of 3.8%: Government

Posted on the 05 March 2022 by Geetikamalik
Read Time:1 Minute, 9 Second

US entrepreneurs added 678,000 workers to their salary in February, pushing the unemployment rate down to 3.8 percent and crawling closer to the pre-pandemic level, the government reported Friday.

The profit of work is widespread, according to the Ministry of Manpower, led by 179,000 new jobs in the recreational and hospitality sectors that are difficult to beat by Covid-19 shutdowns and restrictions.

Recruitment surges far exceeded consensus estimates, although some economists called for a large increase because the world’s largest economy returned to its track.

When the omicron variant wave has faded and local authority lifts restrictions on masks, bars and restaurants have been reopened and Americans have started traveling more.

Manufacturing and construction see simple recruitment benefits, while professional services increase 95,000, the report said.

The government revised the results in the previous two months, for a combination increase of 92,000 additional positions in December and January.

However, while the unemployment rate fell from four percent in January, the share of people in the workforce was almost unchanged.

Data shows that some groups take longer to reap the benefits of recovery, with unemployment among black workers by 6.6 percent, double the white white people.

Millions of people still work part time because they cannot find full-time work, and 1.2 million say they cannot find work because of a pandemic.

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The post US economy added 678,000 jobs in February, the unemployment rate of 3.8%: government first appeared on Businessely.com.


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