Mexican Media Brands
U.S. Jobless Rate Eases to 7.7% As Hiring Accelerates
Employers added 236,000 jobs in America in February compared with an average 195,000 jobs per month in November through January.
#economics
Share
Employers added 236,000 jobs in America in February compared with an average 195,000 jobs per month in November through January.
Economists note that hiring has been steadily improving over the past year from an average of 154,000 jobs per month in the July-October period and 108,000 jobs in April through June.
Last month's jump in hiring cut the U.S. unemployment rate to a four-year-low of 7.7% from 7.9% in January.
Analysts say the job market has been aided by low interest rates and steady improvement in housing, manufacturing, auto sales and corporate profits. The rebound in homebuilding made construction the leading sector in February hiring, with 48,000 new jobs added. Federal, state and local governments shed 10,000 positions.
Job market improvement could boost consumer spending, economists opine. But they say last month's job growth probably won't be enough to persuade the Federal Reserve to rein back its economic stimulus efforts.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.