There are still a LOT of people out of work….
The gains where in ‘hospitality industries, including restaurant and bars’….which are gradually reopening ….
Teaching and other stats and local funded government jobs are taking a hit…
The pace of hiring in February was an unexpectedly large improvement over the gains made in January. It was also the strongest showing since October.
But there are still about 9.5 million fewer jobs today than a year ago. Congress is considering a $1.9 trillion package of pandemic relief intended to carry struggling households and businesses through the coming months.
“What we’re seeing is broad, slow gains,” said Julia Pollak, an economist at the online job site ZipRecruiter. “It’s consistent with a slow reawakening of the labor market after a winter hibernation.”….
U.S. employers added a robust 379,000 jobs last month, the most since October and a sign that the economy is strengthening as confirmed viral cases drop, consumers spend more and states and cities ease business restrictions.
The February gain marked a sharp pickup from the 166,000 jobs that were added in January and the loss of 306,000 in December. Yet it represents just a fraction of the roughly 9.6 million jobs that the economy needs to regain to return to pre-pandemic levels.
The pickup in hiring lowered the unemployment rate from 6.3% to 6.2%, the Labor Department said Friday in its monthly jobs report. That is down dramatically from the 14.8% jobless rate of April of last year, just after the virus erupted in the United States. But it’s well above the pre-pandemic unemployment rate of 3.5%….