US jobs numbers beat predictions, with 200,000 new jobs added in February

Economists say that the pressure for higher wages appeared to be subsiding and labor shortages easing

Employers added 678,000 jobs to the US workforce in February and the unemployment rate edged down to 3.8%, as the impact of the Omicron coronavirus variant eased, workers began returning to offices en masse, and demand for services increased.

Confounding expectations that the variant would dull workforce gains, the jobs data beat most economists' forecasts by 240,000, with the total jobs added being 200,000 higher than the January figure.