Economy

Growth surges on hiring jump in hospitality

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Hiring surged in February as U.S. economic activity picked up with Covid-19 cases steadily dropping and vaccine rollouts providing hope for more growth.

The Labor Department reported Friday that nonfarm payrolls jumped by 379,000 for the month and the unemployment rate fell to 6.2%. That compared with expectations of 210,000 new jobs and the unemployment rate holding steady from the 6.3% rate in January.

An alternative measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons was unchanged at 11.1%.

“Today’s jobs report sets an extremely positive tone as we move into warmer months and the pace of COVID-19 vaccinations accelerates,” said…



Source cnbc.com

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