A closely watched report released by the Labor Department on Friday showed employment in the U.S. jumped by much more than expected in the month of February.
The Labor Department said non-farm payroll employment shot up by 311,000 jobs in February after spiking by a revised 504,000 jobs in January.
Economists had expected employment to increase by 205,000 jobs compared to the surge of 517,000 jobs originally reported for the previous month.
Despite the stronger than expected job growth, the report said the unemployment rate rose to 3.6 percent in February from 3.4 percent in January. The unemployment rate was expected to be unchanged.
