Unemployment rate drops to 3.8% as 678,000 jobs added in February

(WASHINGTON) — U.S. employers added 678,000 jobs to their payrolls last month, the latest figures released Friday by the Labor Department show, exceeding economists’ expectations.

Economists had expected to see employment grow by around 440,000 new positions.

The biggest increases in employment in February occurred in leisure and hospitality (179,000) followed by professional and business services (95,000) and health care (64,000), according to the Labor Department.

Meanwhile, the unemployment rate dropped slightly from 4.0% in January to 3.8% in February.