After reporting much stronger than expected job growth in the previous month, the Labor Department released a report on Friday showing another significant increase in U.S. employment in the month of February.
The report showed non-farm payroll employment spiked by 678,000 jobs in February after surging by an upwardly revised 481,000 jobs in January.
Economists had expected employment to jump by 400,000 jobs compared to the addition of 467,000 jobs originally reported for the previous month.
With the stronger than expected job growth, the unemployment rate dipped to 3.8 percent in February from 4.0 percent in January. The unemployment rate was expected to edge down to 3.9 percent.
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