Job Growth Remains Strong in February 2024

SHRM (03/08/24)

In February, U.S. employers added 275,000 new jobs, maintaining the country’s historic labor market expansion, as reported by the U.S. Bureau of Labor Statistics (BLS). Job growth was strong across various sectors, although the unemployment rate slightly rose from 3.7 percent to 3.9 percent, while wage gains slowed, reflecting decreased inflation. Despite the robust headline growth number, there’s a cautionary note from economists like Andrew Flowers, who suggests potential downward revisions in future reports, as seen in recent historical trends where initial estimates were later adjusted downwards due to additional data.

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