The Bureau of Labor Statistics announced Friday morning that the United States added 313,000 jobs last month.
That’s the most jobs added to the economy since July 2016, according to a New York Times article. Economists had been predicting a gain of about 200,000.
The Bureau reported job rises across multiple industries including construction, retail trade, manufacturing, financial activities, mining and personal and business services. The unemployment held at 4.1 percent for the fifth consecutive month. That number represents a 17-year low, according to the New York Times
The average hourly wage grew by 0.1 percent. It had grown by 0.3 percent in January.
The combination of job growth and wage growth has been received well on Wall Street.
“I love it,” Morgan Stanley Chief United States Economist Ellen Zentner told the New York Times. “We saw a flood of job seekers in the market. We were ablt to create enough jobs to accomodate new seekers and keep the unemployment rate steady.”
To see the Bureau’s full report, click here.
To read a full explanation from the New York Times, click here.