United States: 275,000 job creations in February, much more than expected

(Boursier.com) — The government report on the employment situation in the United States for the month of February 2024 showed 275,000 non-agricultural job creations, compared to a consensus of 200,000 and a revised reading – in sharp drop – to 229,000 for the previous month (353,000 previously estimated). The unemployment rate stood at 3.9%, compared to a consensus of 3.7% and a level of 3.7% also a month earlier. Job creations in the private sector totaled 223,000, compared to 175,000 consensus and 177,000 a month earlier (317,000 for the previous estimate for January). The average hourly wage increased by 0.1% compared to the previous month against 0.2% consensus. It increases by 4.3% over one year. The labor force participation rate has changed little, at 62.5%, in line with market expectations.