Strong Hiring, Low Unemployment Point to Economy Making Post-Pandemic Pivot

The U.S. labor market is pivoting toward a post-pandemic world, with a steady stream of adults joining the labor force and employment approaching levels before Covid-19 began its rapid spread.

Employers added 678,000 workers to their payrolls in February, the biggest gain in seven months, the Labor Department said Friday. The jobless rate fell to 3.8% from 4.0% a month earlier, edging closer to the 50-year low of 3.5% hit just before the pandemic.