WASHINGTON — America’s employers delivered another healthy month of hiring in February, adding a surprising 275,000 jobs and showcasing the U.S. economy’s resilience in the face of high interest rates.
Last month’s job growth marked an increase from a revised gain of 229,000 jobs in January. The unemployment rate ticked up slightly in February to 3.9%, the highest rate in two years but still low by historical standards. It marked the 25th straight month in which joblessness remained below 4%, the longest such streak since the 1960s.
The U.S. Bureau of Labor Statistics report Friday showed average hourly wages rose just 0.1% from January, the smallest monthly gain in more than two years. It also increased by 4.3% from a year earlier, less than expected. When average pay growth rises too fast, it can feed inflation as prices remain about 17% above where they stood three years ago.
