Here's one thing you might have missed in this morning's crowd-pleasing jobs report: Americans spent even less time in spells of unemployment.
Why it matters: The labor market is still hot and employers are hiring at a robust pace. That means laid-off workers have plentiful opportunity to find new gigs.
By the numbers: The median duration that workers spent unemployed dropped to 8.3 weeks last month. For context, before the pandemic hit in January 2020, the number was 9.6.
The big picture: Reports continue to trickle out about layoffs in hard-hit areas of the economy, including technology.
- But the February jobs report is further confirmation that, in most other sectors, employers still have a lot of demand for staff.