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Jobs report surprise: 313,000 added in February

Jobs report surprise: 313,000 added in February
Posted at 8:57 AM, Mar 09, 2018

American businesses are on a hiring spree.

The US economy added 313,000 jobs in February. That was much stronger than economists expected and the biggest gain since July 2016, according to Labor Department figures published Friday.

The unemployment rate stayed at 4.1%, the lowest in 17 years.

Wages grew 2.6% compared with a year earlier, a few notches below the pace in January. That delighted investors: The Dow was set to open up more than 150 points. More modest wage growth cools fears about inflation and rising US interest rates, both of which spooked the markets last month.

In the first two months of the year, the United States has already added more than half a million jobs.

Job gains for December and January were both revised higher.