Unemployment Drops to 7.7%
236K jobs were added in February, many more than expected
By Evann Gastaldo, Newser Staff
Posted Mar 8, 2013 7:49 AM CST
In this Jan. 15, 2013, photo, Racheel Weston, stood in line with a few hundred other job seekers, during the job fair that the Miami Marlins hosted at Marlins Park in Miami.   (AP Photo/J Pat Carter)

(Newser) – The February jobs report is out, and it's way better than economists expected: The unemployment rate dropped to 7.7% from January's 7.9%; economists polled by Dow Jones Newswires had expected it to drop to 7.8%. That's the lowest rate since December 2008. And the economy added 236,000 jobs; those economists expected 160,000. The Wall Street Journal notes that while 2012 saw an average of 183,000 new jobs created per month, the last four months have seen a monthly average of 205,000. "The trend is our friend," it quips.

One less positive note from the report: January's new jobs, initially reported as 157,000, were adjusted to 119,000. But December's numbers were adjusted in the other direction, to 219,000 from an initial report of 196,000, the AP reports.

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Showing 3 of 152 comments
clmsman
Mar 11, 2013 4:07 PM CDT
Drop is a good word how many people dropped out of the workforce to get this 2 tenths of a percent? Bet more people dropped out than got hired by the numbers. Company are not going to hire on a massive scale. They have gotten used to doing more with less and will only hire if business significantly increases. And for those doing more with less they are afarid for their jobs and will do whatever the Co asks.
BarackMustGo
Mar 11, 2013 7:33 AM CDT
NO IT DOESN'T!
lvan
Mar 9, 2013 10:53 PM CST
oh so 0.2% found jobs? That is brilliant! That will stop the banks from foreclosing right?