Close To 700,000 Jobs Were Added In February Pointing To Positive Economic Outlook According To Department Of Labor Report

Close To 700,000 Jobs Were Added In February Pointing To Positive Economic Outlook According To Department Of Labor Report

Roommates, almost 700,000 jobs were added within the month of February alone, while the unemployment rate dropped from 4% to 3.8%, according to the latest report from the U.S. Department Of Labor. These new stats signal that employment growth and economic improvement is on the rise, based on recent expert analysis.

In data collected for last month, a massive 678,000 jobs, which is the largest monthly total since July 2021, were added in the U.S., as reported by Department Of Labor. That’s not the only promising news, as the national unemployment rate reportedly dropped to 3.8%, from 4% in January. These new figures are the lowest level of unemployment since before the COVID-19 pandemic first occurred two years ago.

 

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As the Omicron variant continues to wane, its impact on the American economy is also loosening. More Americans are applying to jobs and accepting work at an increased speed, that industry experts say will help to ease the nationwide labor shortages that have crippled the economy due to the pandemic.

Meanwhile, the popular work-from-home option that many had grown so fond of, also appears to be tapering off a bit, as more people are already returning to work on-site and those who have not, as eager to do so. The previous fear of job-hunting because of fear of contracting COVID-19 as reportedly fell to lower numbers last month.

 

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