The Labor Department this morning reported that the U.S. economy added 678,000 jobs in February, and the jobless rate fell to 3.8 percent.
The agency also reported that job growth was stronger than in previous months. The economy added 481,000 jobs in January and 588,000 in December, according to the Labor Department.
“The labor market continues to be quite hot,” Nick Bunker, an economist at Indeed, told The Wall Street Journal. “It looks like the labor market is still primed for lots of strong employment growth.”
The Wall Street Journal’s reporting added that the labor market could face new headwinds when it comes to job growth, including soaring oil prices, the Russian invasion of Ukraine and impending interest rates hikes by the Federal Reserve.