Topline
Amid waves of layoffs continuing to hit some of the nation’s largest employers, the unemployment rate unexpectedly ticked up last month despite the labor market gaining significantly more jobs than expected—adding to mixed messages about the economy as the Federal Reserve decides whether it should once again ramp up its aggressive campaign to tame rising prices.
Key Facts
Total employment increased by 311,000 in February—significantly more than the 225,000 new jobs economists were expecting, according to data released Friday by the Labor Department.
Following widespread announcements of corporate layoffs last month, the unemployment rate ticked up to 3.6% from 3.4% in January—coming in worse than expectations for it to hold flat at the lowest level since 1969.
This is a developing story. Please check back for updates.
