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Strong February non-farm payrolls

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Miguel A. Rodriguez
Miguel A. Rodriguez
04 March 2022
Job growth gained ground in February, posting the biggest monthly gain since July

According to the latest data from the Labor Department, the non-farm payrolls grew by 678,000 in February, and the unemployment rate came in at 3.8%. Both figures came in better than 407,000 and 3.9%, respectively forecasted. 

Leisure and hospitality led the way, adding 179,000 jobs for the month. It was followed suit by professional and business services – 95,000 and health care – 64,000. 

The figures showed that the market has started to bring employed Americans closer to the pre-pandemic level, though still short by 1.14 million. Labor shortages continue to be a significant obstacle to filling the 10.9 million jobs open at the end of 2021. 

Markets didn’t pay much attention to the readings, as investors focused on the Russia-Ukraine war. 

Sources: cnbc.com, forexfactory.com 

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Miguel A. Rodriguez
Miguel A. Rodriguez
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Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.