America’s employers delivered another healthy month of hiring in February, according to the Associated Press, adding a surprising 275,000 jobs and again showcasing the U.S. economy’s resilience in the face of high interest rates.
Last month’s job growth was up from a revised gain of 229,000 jobs in January. The unemployment rate ticked up two-tenths of a point to 3.9%, but it was still the 25th straight month in which that rate has remained below 4%.
Today’s government report reflects the job market’s sustained ability to withstand the 11 rate hikes the Federal Reserve imposed to fight inflation, which made borrowing much costlier for households and businesses. Employers have continued to hire briskly to meet steady demand from consumers across the economy.
