The U.S. economy added 295,000 jobs in February, beating expectations. The unemployment rate fell to its lowest level since 2008, falling to 5.5% from 5.7%; the unemployment rate one year ago was 6.7%. February is also the 12th straight month that the economy has gained over 200,000 jobs. Forecasts were calling for a more modest number of jobs added during February as many winter storms swept through the country, but these storms didn’t slow the U.S. economy adding jobs.
The February jobs report is another sign of the improving economy and it may also lead to speculation that the Federal Reserve may increase interest rates sooner rather than later. The latest jobs report and other U.S. Department of Labor reports can be viewed here.
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