Businesses and workers showed resilience. Nearly every industry increased hiring, with the biggest gains occurring in restaurants and bars. It’s too early to declare that the pandemic is over, but there are increasing signs that people are learning to live with it, especially those who are vaccinated.

The United States has now gained back 87 percent of the 22 million jobs lost during the pandemic recession. It’s one of the fastest job recoveries on record.

The recovery does come with an asterisk. High inflation is eating up the wage gains for many workers, and there are still millions of workers who have yet to return due to health concerns, child care and eldercare problems, and long-term effects from Covid. While the unemployment rate has fallen quickly, this has been the slowest recovery in modern history for labor force participation.

Still, the big takeaway from the latest data is that the U.S. job market is even stronger than we thought. In addition to robust January hiring, it turns out job gains at the end of last year were also much better than initially perceived. There were actually 510,000 jobs added in December (versus a preliminary estimate of 199,000) and 647,000 added in November (versus a preliminary estimate of 249,000). Last month also saw a strong rebound for Black workers and the fastest monthly wage growth so far in the pandemic era.

There was not a winter slump this year, as there was a year ago. A lot of credit goes to the rapid rollout of vaccines, but the American Rescue Plan that Democrats passed early in President Biden’s term also played a role. It boosted growth and gave families, businesses and local governments the resources to get through the delta and omicron waves of the virus.

There will long be debates about whether the American Rescue Plan was too big. The $1.9 trillion size likely played some role in spurring the high inflation the nation now faces, though supply chain glitches and unusually high demand for goods are even bigger drivers of high prices. But what’s also clear is many families are benefiting from this rapid return to work.

The Federal Reserve has committed to fight inflation and bring it down to a more normal level. If the central bank can do that — and that’s a big if — without causing many job losses or pushing the economy into a recession, then this recovery will be a major victory for policymakers and the American people.

For now, Mr. Biden should continue to encourage Americans to take advantage of this historic job market. In spite of the latest burst of hiring, there are still 10 job openings for every 6 unemployed workers.