Recently American jobless claims fell amid strong job rebound and The Bureau of Labor Statistics reported a gain of 678,000 jobs in February, easily beating economists’ estimates of 400,000 to 450,000 new jobs.
Although the raw number of jobs created and the rate of job growth is near a historical record, the labor force participation rate – the number of adults who can work that are working – remains well below its peak in the late 1990s, according to the Department of Labor. The unemployment rate dropped to 3.8%, from 4% in January.
The growth in jobs was widespread, particularly temporary employment services, which saw a 44% increase in jobs, and transportation and warehousing.
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