The Bureau of Labor Statistics released its closely watched monthly labor report on Thursday, indicating that non-farm payrolls rose by 678,000 in February, surpassing expectations and reducing unemployment to a nearly two-year low of 3.8 percent.
The Employment Situation Summary comes hot on the heels of the monthly payroll report by ADP, which indicated a growth of 475,000 non-farm private jobs. However, the Bureau of Labor Statistics report is generally seen as more comprehensive and reliable, and is thus studied more closely than the figures from ADP.
