business news in context, analysis with attitude

•  From the Washington Post:

"Americans continued to switch jobs at near-record rates in February, with 4.4 million workers leaving their positions in a historically tight labor market.

"Employers hired 6.7 million people that month while reporting 11.3 million job openings, according to a report released Tuesday by the Bureau of Labor Statistics."

According to the story, "The latest report builds on months of economic momentum, with U.S. employers adding a record 7 million jobs over the past year. The economy created 678,000 positions in February alone, sending the unemployment rate to a pandemic low of 3.8 percent, Labor Department data shows.

"U.S. adds 678,000 jobs in February, with labor market nearing full recovery from pandemic.

"That strong reading — which added to the Federal Reserve’s resolve to begin increasing interest rates this month — also has given new leverage to workers as they look for more-favorable working conditions and higher pay."