U.S. Job Creation Accelerates in February

U.S. job growth accelerated in February, as falling Omicron cases brought customers back to business and workers back off the sidelines. Employers added 678,000 jobs last month, topping economists’ forecasts for a second straight month and bringing the unemployment rate down to 3.8%, according to the Labor Department.

Job openings are near a record high, the biggest gain in seven months. Layoffs are at a new low, yet the U.S. economy still has roughly two million fewer jobs than it did before the pandemic resulted in mass layoffs two years ago. Despite the gains, some workers remain sidelined by health concerns, childcare problems, or other factors. The result: companies still report having trouble finding enough staff to meet demand.