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U.S. payrolls surge, jobless rate near 2-year low
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| Contributor | Monsieur |
| Last Edited | Monsieur Mar 04, 2011 09:00am |
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| Category | News |
| Author | Lucia Mutikani |
| Media | Newspaper - Toronto Globe and Mail |
| News Date | Friday, March 4, 2011 02:00:00 PM UTC0:0 |
| Description | U.S. employers hired more workers in February than in any month since May last year and the unemployment rate fell to a near two-year low, raising hopes the economic recovery has become self-sustaining..
Non-farm payrolls increased 192,000, the Labor Department said on Friday, in line with expectations. Data for December and January was revised to show 58,000 more jobs created than previously estimated.
The last time payrolls grew so much was last May, when the government’s hiring of temporary workers for a census boosted payrolls hugely.
As in previous months, the private sector accounted for all the job gains in February, with an addition of 222,000 positions - the largest gain since April 2010. That was up from 68,000 in January.
The unemployment rate dipped to 8.9 per cent, the lowest since April 2009, from 9 per cent in January as more people reported finding work. |
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