U.S. Non-Farm Payrolls Rise More Than Expected in February

The U.S. Labor Department reported that nonfarm payrolls rose by 678,000 in February, while analysts had previously expected an increase of 440,000.

The unemployment rate fell to 3.8%, below analysts’ forecast of 3.9%.

The U.S. Labor Department revised January’s nonfarm payrolls to 481,000 from 467,000 and December’s nonfarm payrolls to 588,000 from 510,000.

Average hourly earnings for workers rose 0.03%, with the Federal Reserve (Fed) viewing hourly earnings as a sign of inflation.

The U.S. labor force entry rate figure shows the ratio of the labor force to the total population was 62.3%.

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