Jobs jump by 313,000 in February, best since July 2016

(FOX News) - U.S. stock futures jumped by triple digits on Friday after employers helped drive the best job growth since July 2016. U.S. employers added 313,000 jobs in February, far surpassing expectations for an increase of 200,000 jobs after January’s better-than-expected reading, the Labor Department reported.

The unemployment rate remained at 4.1%, the lowest rate in more than 17 years, while the labor force participation rate increased to 63% from 62.7% during the month. That metric gauges the percentage of working-age Americans who are working or looking for work.

Average hourly earnings meanwhile increased by $0.04 to $26.75, while wage growth rose by 2.6%, slightly slower than January's 2.9% increase.

Goods-producing industries such as construction, manufacturing as well as mining and logging, collectively, had the highest month-to-month growth since 1998. Job creation numbers for January and December were revised higher, according to the monthly report.

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