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. 

Share:
More In Business
GM President Mark Reuss on New Electric Escalade and Overall EV Market
GM President Mark Reuss joined Cheddar News to discuss the company's new Cadillac Escalade electric vehicle and talked about how to make affordable EVs for the general public. "That's who we are as a company -- we will offer vehicles for everybody and every different income level," he said.
Stretching Your Dollar: Tips for Buying a Used Car
Lauren Fix, automotive expert with 'The Car Coach,' spoke with Cheddar News to provide tips and advantages on buying a used vehicle. "You let somebody else take the depreciation, which is probably one of the best things ... you then move in at a two- or three-year-old vehicle that maybe was leased, and you can get some great values," she said.
Load More