A hiring sign is posted outside business in Huntingdon Valley, Pa., on Feb. 22. Employers are keen for workers as the economy continues to recover from the pandemic.Hiring accelerated sharply last month as U.S. employers added 678,000 jobs, the largest gain since last July, and a resilient economy continues its recovery from the stubborn coronavirus pandemic.
Job gains in February were widespread with bars and restaurants adding 124,000 jobs, construction companies adding 60,000, and factories adding 36,000. The economy has now recovered more than 90% of the payroll jobs that were lost in the early months of the pandemic.And Russia's invasion of Ukraine adds another wild card to the economic forecast.
In some instances, rising wages are contributing to higher prices. And because prices are climbing rapidly, many workers' paychecks don't go as far as they used to.