U.S. Added 678,000 Jobs in February — WSJ

The Scariest Jobs Chart Ever

Also, see how badly the Obama administration screwed the pooch handling the Great Recession

We have the monthly jobs numbers, and very good, with 678 thousand jobs added over the past month.

The upside is that this is a very good jobs report.

The bad news is that we are going to see a sh%$-load of rate increases from the Federal Reserve over the next years.

How to even evaluate this in the context of current weirdness going on the world is way above my pay grade:

The U.S. labor market is pivoting toward a post-pandemic world, with a steady stream of adults joining the labor force and employment approaching levels before Covid-19 began its rapid spread.

Employers added 678,000 workers to their payrolls in February, the biggest gain in seven months, the Labor Department said Friday. The jobless rate fell to 3.8% from 4.0% a month earlier, edging closer to the 50-year low of 3.5% hit just before the pandemic.

More than 300,000 people joined the workforce, and the ranks of those reporting being unable to work because of Covid-19 fell by 1.8 million. Wage growth cooled, a sign that a nationwide labor shortage might be easing as employers fill lower-wage positions that had long been dormant.

Hotels, restaurants, amusement parks and other hospitality industries led the way in hiring as firms sought to accommodate a growing number of vacationers, convention attendees and business travelers. Big states and cities in recent days have lifted some of the remaining Covid restrictions, which could further boost business and hiring.

Yeah, we have a war in Europe, and pandemic restrictions being rolled back at the what is likely the wrong time, so the world may interfere with any potential recovery.