US Boom: Jobs Jump By 236,000 In February
The number of people hired in the United States by non-farm employers jumped by 236,000 in February, exceeding expectations.
The unemployment rate also dropped to 7.7% from 7.9% in January, the lowest level since December 2008.
The Obama administration said it is evidence that the economic recovery is "gaining traction".
New jobs have averaged more than 200,000 per month since November last year.
Wages have increased and the gains were broad-based, led by the best construction hiring in six years.
But there was one negative detail in the government's February employment report.
Employers added fewer jobs in January than first estimated.
Job gains were lowered to 119,000 from an initially reported 157,000.
However, December hiring was a little better than first thought, with 219,000 jobs added instead of 196,000.
The upbeat figures saw a strengthening of the dollar, with Sterling sliding beneath the $1.49 figure.
Many economists expected hiring to fall in early 2013 largely due to the ongoing uncertainty surrounding the US budget, higher tax rates and looming federal spending cuts that took effect in March.
Yet the latest jobs report indicates job creation is speeding up.
However, early 2011 and 2012 also saw hiring jumps only to see the figures die back as the year went on.
White House economist Alan Krueger noted in a statement that the new unemployment rate was measured before $85bn (£56bn) in automatic budget cuts started taking effect.
The administration has warned that the cuts could have a negative impact on employment and economic growth.
It is urging Congress to move toward a "sustainable federal budget" by closing tax loopholes, enacting entitlement reforms and cutting spending.
what do you think?
236,000 jobs in Walmart and Mcdonalds
Better than no jobs.
Really? Next thing you will be telling me is that flipping burgers and stacking shelves stimulates and promotes an economy.
Its better than paying more in benefits with no return isnt it, plus their income tax on money earned, money will be spent back into the economy helping others, which creates further jobs, improving everything again, when you take away jobs it goes the opposite way, which David Cameron likes
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This lacks one qualifying piece of data - what is the working population of the US and what percentage of the unemployed is it? This is again statistics and hype but in a country which is so large it could potentially function as a closed economy
Yes WLU, the penultimate sentence says it all
Are things looking up in Detroit ?
Still 1 in 4 American children going to bed hungry .1 in 5 Americans no health care and they promote the good life of America to the rest of the world. I have seen it up close in all towns and city`s I visited Homeless ,poverty, unemployment and the untreated sick. I f you think your poor in Europe be poor in America you are regarded as a B====U====M.