As the covid case’s drop and restrictions lessen….
People have begun to go back to work in larger numbers it appears…
Employers and President Biden are happy….
This should be a boost for the economy and the tax collectors….
Job growth accelerated last month, as falling coronavirus cases brought customers back to businesses and workers back to the office.
U.S. employers added 678,000 jobs in February, the Labor Department said Friday. The gain topped economists’ forecasts for a second straight month, after employers in January shrugged off a spike in coronavirus cases and kept hiring workers. The unemployment rate in February fell to 3.8 percent.
The data was collected in mid-February, before the Russian invasion of Ukraine, which roiled global financial markets and caused a sharp increase in energy prices. Analysts say the United States is less vulnerable than Europe to the economic effects of the crisis, but warn that a prolonged conflict will have global repercussions that are hard to predict.
So far, at least, the labor market recovery has overcome every obstacle. Job openings are near a record high. Layoffs are at a new low. And hiring has remained strong in the ebb and flow of successive waves of the pandemic — employers have added at least 400,000 jobs every month since May, the longest such streak on record.
“This is an economy that has learned to manage very well through uncertainty,” said Robert Rosener, senior U.S. economist with Morgan Stanley. “We’ve continually been surprised by the resilience of the U.S. labor market.”
Continued strong job growth could be good news for President Biden, who in his State of the Union address this week argued that his policies, including the $1.9 trillion pandemic aid package passed early in his term, have contributed to the stronger-than-expected economic rebound. But Mr. Biden has struggled to capitalize on the robust labor market, in part because many voters are unhappy about high rates of inflation….