US Economy Adds 275,000 Jobs in February: Labor Market Expansion Continues

The U.S. job market continued its strong performance in February with non-farm payrolls expanding by 275,000 jobs, surpassing expectations of 200,000, according to data released by the Bureau of Labor Statistics (BLS). The unemployment rate stood at 3.9%, marking the 25th consecutive month it has been below 4%. However, there was an unexpected increase in the unemployment rate from 3.7% to 3.9%. Monthly hourly earnings grew by only 0.1%, down from 0.6% in the previous month. Meanwhile, Canada added 41,000 jobs in February with gains driven primarily by full-time employment. Despite high interest rates, strong population growth is offsetting some negative effects on the economy.