U.S. Economy Adds 275,000 Jobs in February, Exceeding Expectations
The unemployment rate rises to 3.9% as more Americans join the labor force, with wage growth outpacing inflation.
- The U.S. economy added 275,000 jobs in February, surpassing expectations and indicating a resilient labor market.
- Unemployment rate rose to 3.9%, the highest in over two years, due to an increase in labor force participation.
- Wage growth in February was 4.3% year-over-year, outpacing inflation but raising concerns about its impact on Federal Reserve's interest rate decisions.
- Manufacturing jobs saw a decline despite significant investments, puzzling economists.
- Analysts predict the Federal Reserve may begin cutting interest rates by June 2024, potentially impacting the housing market and borrowing costs.
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