February Jobs Report Better Than Expected
Posted at 10:15 a.m. on March 7
The economy added 175,000 jobs in February while the unemployment rate increased to 6.7%.
Politico: The “better-than-expected jobs report released on Friday eased some concerns that the economic recovery is stalling, and helped spur optimism that labor conditions could pick back up once the weather improves.”
The payroll number beat expectations of a previously estimated job growth of around 150,000.
“Still, jobs growth in February came in below the pace set over the past 12 months, when an average of 189,000 jobs were created each month.”
“The unemployment rate ticked up slightly because the labor force grew by 264,000 since January — a positive sign that more people are optimistic enough about the jobs market that they are looking for work rather staying on the sidelines.”
“The latest report likely means the Fed will continue its current policy path at the meeting later this month.”