 "us economy")
U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy's solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.
The Labor Department's report Friday also showed that the unemployment rate dropped from 4per cent to 3.8per cent, extending a sharp drop in joblessness as the economy has rebounded from the pandemic recession.
The latest jobs data follows recent reports that have shown an economy maintaining strength as new COVID infections have plummeted since late January. Consumer spending has risen, spurred by higher wages and savings. Restaurant traffic has regained pre-pandemic levels, hotel reservations are up and far more Americans are flying than at the height of omicron.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
