U.S. Tops Estimates With 678,000 Jobs Added in February

In February, 678,000 jobs were restored, surpassing expectations of 421,000. The unemployment rate fell to 3.8%, returning to December levels. Despite a tight labor market, average hourly earnings remained flat, with a yearly increase of 5.1%. This is unusual given the minimum wage hikes in 21 states and typical January raises. The Fed sees this as a positive sign, indicating no wage price spiral. Labor force participation increased slightly, suggesting a return to the workforce post-omicron.

What was the number of jobs restored in February?

What was the unemployment rate after the changes?

What was the increase in average hourly earnings on the year?

What was the labor force participation rate in the latest report?

What factors were mentioned that might have kept people from the labor force?