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.