US non-farm payroll employment rose 275k in February, above expectation of 200k. However, January’s figure was revised sharply lower from 353k to 229k.
Unemployment rate jumped from 3.7% to 3.9%, above expectation of being unchanged at 3.7%. Labor force participation rate was unchanged at 62.5% for the third consecutive month.
Average hourly earnings rose 0.1% mom, below expectation of 0.2% mom. Average workweek edged up by 0.1 hour to 34.3 hours.
