Employment data

The service-providing sector added 110,000 jobs for the month, including 5,000 in professional and business services such as accounting and tax preparation.

Year-over-year hourly earnings growth for U.S. workers moderated slightly in February, continuing a trend that began mid-2022, while small business job growth held steady.

The jobs report far surpassed most economists' expectations, but the unemployment rate held steady at 3.7%.

Hourly earnings growth for employees is slowing, even as job growth continues, according to a new report from Paychex.

Private sector employers added 107,000 jobs in January as annual pay grew 5.2% on a year-over-year basis, payroll giant ADP reported.

The unemployment rate remained unchanged at 3.7%, the U.S. Bureau of Labor Statistics reported.

The service-providing sector added 155,000 jobs, including 1,000 in professional and business services.

The average pace of job growth in 2023 remained above the growth rate leading up to the pandemic.

The unemployment rate declined two-tenths of a point to 3.7% in a sign of a strong economy despite high interest rates.

Annual pay rose 5.6% year-over-year, payroll giant ADP reported, seeing signs of a hiring slowdown for next year.