US economy adds 311,000 jobs in February

Published March 10th, 2023 - 03:20 GMT
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US economy adds 311,000 jobs in February

ALBAWABA - The U.S. economy added 311,000 jobs in February, according to figures released Friday by the U.S. Bureau for Labor Statistics.

The figure surpassed expectations of a net gain of 205,000 jobs for February, according to CNN.

However, February's added positions were way less that a whopping 517,000 jobs added in January.

The fluctuation pointed to instability in the labor market, where the unemployment rate inched up to 3.6 percent in February, up from 3.4 percent in the previous month.

The U.S. Federal Reserve has been fighting an uphill battle in the past year to stamp out the nation's highest inflation in four decades. But the labor is undermining the endeavor.

CNN said industries with "notable job gains included leisure and hospitality, retail trade, government and health care."

"After being crushed during the (COVID-19) pandemic, the leisure and hospitality has been steadily adding back employees and trying to meet increased demand from consumers shifting their spending from goods to services."

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