Payrolls rise by 678,000 as unemployment rate falls to 3.8%

The U.S. economy added back the most jobs since July 2021 in February, with job growth accelerating even in the already-tight labor market as new Omicron cases from earlier this year came down.

The Labor Department released its February jobs report Friday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg:

  • Non-farm payrolls: +678,000 vs. +423,000 expected and an upwardly revised +481,000 in January

  • Unemployment rate: 3.8% vs. 3.9%…


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