U.S. Economy Adds 242,000 Jobs in February; Unemployment Rate Holds Steady

March 4, 2016 2:07 PM

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U.S. Economy Adds 242,000 Jobs in February; Unemployment Rate Holds Steady

Amid fears that the U.S. could be joining a global slowdown, the economy added a better-than-expected 242,000 jobs in February while the unemployment rate held steady at 4.9 percent. Economists were expecting 190,000 new positions and no change in the jobless figure.

Despite the strong headline number, the closely watched average hourly wages actually declined for the month, falling 3 cents and equating to a 2.2 percent annualized jump, down from 2.5 percent in January. Fed policymakers are looking at wages for evidence of inflation. The average hourly work week...

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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