Below, EPI economists offer their insights on the jobs report released this morning, which showed 275,000 jobs added in February.

From EPI senior economist, Elise Gould (@eliselgould):

Read the full thread here.

A bit of a tale of two surveys in the #jobsreport as employment fell in the household survey as the payroll survey showed strong growth. Payroll survey is the gold standard (larger sample/benchmarked) but the increase in unemployment in the household survey is something to watch.

— Elise Gould (@eliselgould) March 8, 2024

Payroll gains were 275,000 overall for February 2024. Employment growth was strongest in health care and social assistance, leisure and hospitality, and the public sector (government employment). pic.twitter.com/BinlPOAXFu

— Elise Gould (@eliselgould) March 8, 2024

After ticking up in January, nominal wage growth is back on the moderating road in February. Last month’s pace of wage growth was clearly a blip and we’re now back to totally sustainable rates of wage growth consistent with normalizing. Fed take note! pic.twitter.com/Qcd6ZE95Ef

— Elise Gould (@eliselgould) March 8, 2024

In general, I’d read the household survey with a grain of salt. The payroll survey remains the gold standard because of larger sample sizes and benchmarking to administrative records. It’s likely the drop in employment in the hh survey is a blip in an otherwise promising report.

— Elise Gould (@eliselgould) March 8, 2024

From EPI president, Heidi Shierholz (@hshierholz):

New #jobsday data out today show that over the last 12 months, the unemployment rate for US-born workers has averaged 3.7%, almost the record low. The economy is being boosted by immigrant labor force growth while also maintaining extraordinarily low U.S.-born unemployment. https://t.co/PQo7EWn391

— Heidi Shierholz (@hshierholz) March 8, 2024