February Jobs Report Contained a Surprise

The February jobs report was an eagerly anticipated one, and it held a surprise. Economists had not expected a repeat of January's originally reported 353,000 new jobs, with most predicting the addition of 200,000 jobs last month. But February delivered 275,000 new jobs, a number the AP calls "surprisingly robust" and "a sign of continued economic strength." The Wall Street Journal frames it as "a red-hot start to the year that has renewed fears that inflation could remain stubbornly high." Though that hot start got slightly less so with the Labor Department's revision of January's number to 229,000 jobs.

The unemployment rate inched up to 3.9% from 3.7% the month prior, though CNN notes that marks the 25th consecutive month the rate has been below 4%. As for the report's implications, CNN noted, "Wall Street was taken aback by the US labor market's resilience in January. Another unexpectedly hot report could shake things up again." (More jobs report stories.)