Latest Jobs Report Outpaces Expectations with 311,000 Jobs Added in February 

Traders were on edge ahead of the latest jobs report for February, released by the U.S. Bureau of Labor Statistics Friday morning. The Federal Reserve has been closely monitoring the labor market for any signals of easing inflation. 

Last month, the government reported that total nonfarm payroll employment swelled by 517,000 in January, far outpacing expectations. The unemployment rate was little changed at 3.4%, which was the lowest level since 1969. 

In the latest report, the labor department said that U.S. employers added 311,000 jobs in February. While this was below last month's stout advance, it was above what economists were anticipating and signals solid U.S. job growth. The unemployment rate moved up to 3.6%.

U.S. stock futures were mostly lower Friday morning ahead of the jobs data but all three major indices have since turned higher as traders digest the latest numbers. 

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