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.
Tobacco manufacturers have started posting new warning signs about cigarettes in over 200,000 stores across the country, one of the final steps in a lawsuit filed by the Justice Department against Big Tobacco in 1999.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Ahead of the July 4th holiday weekend, flight delays and cancellations have impacted thousands across the country. Cheddar News checked in from New York's LaGuardia Airport for more.
Overstock.com CEO Jonathan Johnson joined Cheddar News after a bankruptcy court approved its purchase of Bed Bath & Beyond's digital and IP assets. Johnson looked ahead to what consumers can expect as those assets are absorbed into Overstock.com and what lies ahead overall.
