Don't count the labor market out yet.
The U.S. economy added 311,000 jobs in February, and the unemployment rate ticked up to 3.6 percent, according to the U.S. Bureau of Labor Statistics.
The gains were well above the consensus estimates of around 200,000 new jobs, in another sign that the labor market is stronger than many expected given recent Federal Reserve rate hikes. In January, the U.S. added a whopping half a million jobs, despite expectations of a sizable slow down in hires.
What sectors are driving the gains? Leisure and hospitality, once again leading the charge, added 105,000 jobs, with food services and drinking places adding the lion's share.
Retail, meanwhile, added 50,000 jobs, with general merchandise stores contributing the bulk, and government employment increased 46,000 in February.
On the losing side, the information industry shed 25,000 jobs, and transportation and warehousing lost 22,000 jobs — the second large drop for the sector since the beginning of the year.
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Apple posted better-than-expected results for the third quarter but continued to report soft revenue. Cheddar News breaks it all down.
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Stocks jumped Friday after a jobs report showed a higher slowdown in hiring, giving hope to an end in rate hikes.
A new study found greater productivity in companies with a higher gender balance.
Apple posted better-than-expected profit and revenue in the latest quarter but said sales dropped for the fourth straight quarter, including a drop in revenue for iPads and iMacs.
The Federal Trade Commission is accusing Amazon of using an algorithm to raise prices for some of its products, thereby causing other shopping sites to do the same.
The Labor Department reported the U.S. economy added 150,000 jobs in October, down from an adjusted 297,000 jobs added in September.
President Biden is gathering leaders from countries across the Americas to discuss supply chains and migration issues.
