The U.S. economy created 311,000 new jobs in February, exceeding expectations of 225,000, according to the Bureau of Labor Statistics. The unemployment rate edged upward to 3.6%, but remains just above its lowest point in decades. 

The February new jobs report was the eleventh consecutive month in which job gains exceeded the expectations of economists. The strong labor market reinforced evidence that no recession was imminent, despite one of the most aggressive monetary tightening campaigns in U.S. history and other signals recession – two quarters of shrinking in the size of the economy -- could yet occur by the end of 2023.