A"Help Wanted" sign is posted at a restaurant in Los Angeles on Feb. 2, 2023. U.S. employers added 311,000 jobs last month, a number that indicates the labor market remains fairly hot.
The report shows January's job gains were only slightly weaker than initially reported, with 504,000 jobs added that month, according to the revised figures also out on Friday.Job gains in February were widespread, with in-person service industries showing robust hiring."Leisure and hospitality is leading that charge," said Nela Richardson, chief economist for the payroll processing company ADP.
"The process of getting inflation back down to 2% has a long way to go and is likely to be bumpy," Powell told the Senate Banking Committee Tuesday."If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes."