Updated Mar 26, 2020 - Economy & Business

Biggest spike in jobless claims in U.S. history

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U.S. economy surprises with 273,000 jobs added in February

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 273,000 jobs in February — way more than the 175,000 economists expected — while the unemployment rate dipped to 3.5%, the government said Friday.

Why it matters: The labor market is adding jobs at a breakneck pace, but the numbers don’t take into account the worsening coronavirus outbreak that threatens the record-long stretch of job gains.

Coronavirus updates: Italy records deadliest day with nearly 1,000 dead

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Italy on Friday reported 969 COVID-19 deaths over a 24-hour period, marking the deadliest single-day for the country since the global outbreak began, according to data from the Health Ministry.

The big picture: The U.S. now leads the world in confirmed coronavirus cases, as the number of global cases nears 600,000. Governments around the world are trying to curb the medical and financial fallout of COVID-19, as infections surge across Europe and the U.S.

Go deeperArrowUpdated 11 hours ago - Health

Stocks surge 4% after Wall Street's worst day since 2008

Photo: Timothy Clary/AFP via Getty Images

The stock market closed up more than 4% on Tuesday, recovering half of the losses from Monday's sell-off.

Between the lines: The Trump administration signaled it will work with Congress to try to shore up the economy amid concerns about the effects of the spreading coronavirus and collapsing oil prices.

Go deeperArrowUpdated Mar 10, 2020 - Economy & Business