https://www.wsj.com/articles/february-jobs-report-unemployme…
**February Hiring Strongest Since Summer; Unemployment Falls to Pandemic Low**
**But rising oil prices and looming rate increases from the Fed pose new threats to the jobs recovery**
**by Josh Mitchell, The Wall Street Journal, 3/4/2022**
**The U.S. economy posted the strongest job growth in seven months in February and the unemployment rate fell to the lowest level since the pandemic, signs of a strong labor market ahead of a pivotal Federal Reserve meeting.**
**mployers added a seasonally adjusted 678,000 workers to their payrolls last month, the strongest gain since last July, the Labor Department said Friday. The jobless rate, derived from a separate survey of households, fell to 3.8% from 4.0% a month earlier, edging closer to the pre-pandemic level of 3.5%. ...Job growth was also stronger in prior months than initially reported, the agency said. The economy added 481,000 jobs in January and 588,000 jobs in December. ...** [end quote]
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These strong employment numbers will pressure the Federal Reserve to raise the fed funds rate in about a week. Fed Chair Powell has announced a 0.25% rate raise. But if inflation remains hot and hiring remains strong, expect 2022 to have a few rate raises.
Wendy