Non-farm payrolls added a whopping 678,000 jobs in February, well above the consensus estimate of 400,000; and the unemployment rate dropped two-tenths of a point to 3.8 percent, the lowest of Biden’s presidency, the U.S. Bureau of Labor statistics reported Friday.
The unemployment rate dropped as low as 3.5 percent during the Trump administration, before COVID hit.
The number of Americans counted as employed increased by 598,000 in February, to 157,722,000, the highest it’s been since the record 158,866,000 people counted as employed in February 2020.
