US nonfarm payrolls up by 678,000 in February
Nonfarm employment in the United States increased by 678,000 in February, data released by the country's Bureau of Labor Statistics showed on Friday. The figure surpassed market expectations.
The unemployment rate was down 0.2 percentage points from the previous month, landing at 3.8% in February. The labor force participation rate rose by 0.1 percentage points to 62.3%. The workforce grew the most in the leisure and hospitality sector, with 179,000 jobs gained. Professional and business services sector employment increased by 95,000, followed by the health care sector which added 64,000 jobs.
Average hourly earnings for all employees on private nonfarm payrolls rose by one cent from January to reach $31.58 in February, representing a year-on-year increase of 5.1%.