The Bureau of Labor Statistics in the United States announced that the economy gained 275,000 jobs in February, exceeding expectations. However, the unemployment rate also increased by 0.2% to 3.9%.

The job growth exceeded the expectations of economists polled by Reuters, with their projected average of approximately 200,000 additional jobs.

According to a statement from President Joe Biden, the number of jobs added in February has brought the total number created since he assumed office in 2021 to almost 15 million. He also mentioned that the unemployment rate has remained below 4% for the longest time in over 50 years.

Three years prior, I acquired an economy teetering on the edge,” he stated. “Today, our economy is the object of admiration worldwide.” Biden also stated that the American people are creating the most remarkable comeback that has not been shared.

The report showed job gains were above the average monthly gain of 230,000 jobs over the past year. Job gains occurred in health care, government, food services and drinking establishments, social assistance, and transportation and warehousing.

37,000 jobs, from plus-304,000 to plus-267,000

The employment figures for December were adjusted to show 43,000 fewer jobs gained, with the total now at plus-290,000 instead of plus-333,000. Additionally, the job gain for January was also revised down by 37,000, bringing the new total to plus-267,000 instead of plus-304,000.

The number has changed from an initial plus-353,000 to plus-229,000, resulting in a total of 124,000. As a result of these modifications, the total number of jobs reported in December and January is actually 167,000 lower than what was initially stated.

The bureau stated that monthly updates are due to new data submitted by businesses and government agencies, as well as a reevaluation of seasonal factors since the previous estimates were published.

The Associated Press and Reuters contributed to the information in this report.