U.S. job growth picked up speed in February, with nonfarm payrolls increasing by 275,000 jobs. However, the unemployment rate rose to 3.9%, and wage gains moderated, leading to speculation about a potential interest rate cut by the Federal Reserve in June. Despite this, the labor market is robust, supporting the economy, and economists do not foresee a recession this year. Some sectors continue to struggle with labor shortages, but overall, employers are holding onto workers. Fed Chair Jerome Powell indicated that rate cuts might be necessary later in the year, depending on economic conditions.