The U.S. economy added more jobs than expected in February, though the increase was not enough to bring down the unemployment rate, according to figures released Friday by the Labor Department.
The economy added a net of 227,000 jobs in February, with a gain of 233,000 jobs in the private sector offsetting losses in public sector employment.
Furthermore the January spike in job creation was revised up to 284,000 from the 243,000 initially reported, while December's figures were revised up to 223,000 from 203,000.
Most economists had predicted a drop from the robust 243,000 jobs initially reported as created in January, but the consensus had been that job creation would fall off even further to roughly 204,000.
The increases, however, were not large enough to bring down the unemployment rate, which held steady in February at 8.3 percent, as expected by most economists.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.