The US added 379,000 jobs in February, signaling the recovery is finally gaining steam

The US economy added 379,000 jobs last month, far more than economists had expected, signaling the labor market recovery is finally gaining steam.

The unemployment rate — which only counts people who are actively seeking jobs and not those who have dropped out of the workforce entirely — inched down to 6.2% from 6.3% in January. Economists had predicted it would stay flat.

Economists agree that the official jobless rate is likely under-reporting how many people are actually unemployed as a result of the pandemic.

This is a developing story. It will be updated.