Bloomberg (03/09/12) Alex Kowalski
The U.S. created 227,000 jobs in February and more people found work in the prior two months than previously reported, suggesting the economy’s recent momentum is likely to continue, according to data released today by the U.S. Department of Labor. The jobless rate held at 8.3%. Job growth over the past six months was the strongest since 2006. The median projection of economists in a Bloomberg News survey called for a 210,000 rise in February employment.
The jobless rate held steady even as the survey showed the labor force grew. Employment climbed by 428,000 in February, while the labor force rose 476,000. The participation rate, which indicates the share of working-age people in the labor force, rose to 63.9% from 63.7%. Private payrolls, which exclude government agencies, rose 233,000 in February after a revised gain of 285,000 the prior month. They were projected to climb by 225,000. Manufacturing payrolls increased by 31,000.
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