US added 275,000 jobs in February as labor market stays hot
Three years ago, the U.S. economy went through an unprecedented upheaval as millions of workers left low-paying jobs for more promising ones.
Three years ago, the U.S. economy went through an unprecedented upheaval as millions of workers left low-paying jobs for more promising ones. At the same time, many white-collar workers cemented themselves into remote, or at least hybrid, positions that gave them more flexibility.
It was called the "great resignation."
Fast-forward to today, and the situation looks like a mirror image, economists say. Specifically, on average, few workers are leaving their jobs, though they still do not face the prospect of imminent layoffs.
At the same time, the rate of hiring has dropped significantly. Some economists have begun calling it the "great stay."
On Friday, the Bureau of Labor Statistics reported that the U.S. economy added 275,000 jobs in February, up from a revised 229,000 in January and above the 198,000 expected by economists.
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