WASHINGTON—A robust February jobs report showcased a resilient U.S. economy just as fears of a new recession had begun to surface.
Economic reports in recent weeks had fueled anxieties about a looming downturn: Manufacturers were slumping. Stocks had plummeted. China was slowing sharply along with other emerging markets. The rising dollar had crushed exports.
But last month, U.S. employers sent a clear message of confidence. They added a healthy 242,000 jobs, while the unemployment rate held at a low 4.9 percent, the government said Friday. The gains showed that the economy is surmounting its challenges without suffering much damage.
Neither global headwinds, financial turbulence nor political uncertainty has dimmed American business' enthusiasm for hiring.
, BMO Capital Markets
