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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.

By the numbers: Employment was stronger than initially estimated in prior months, too. December and January payrolls were revised higher by a combined 85,000 jobs.

  • Wages grew 3% from the same month last year, a slightly slower pace than in January.

The bottom line: The jobs report surveyed employers and workers before U.S. coronavirus fears escalated. Economists expect employment gains, particularly those seen in the services sector in February, to slow as companies see less demand because of the outbreak.

  • The numbers did little to soothe on-edge investors about the fate of the economy. The stock market pointed to big losses in pre-market morning trading, while the government bond yields plumbed new lows.

Go deeper

13 hours ago - Health

15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
14 hours ago - Health

In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.