The US economy created more jobs in February than expected and lower unemployment rate exceeded analysts’ expectations, according to figures released Friday by the Labor Department.
The economy has generated 295,000 net jobs, beating the median estimate of analysts which called for 240,000 new hires. However, the figure for January was significantly revised down to 239,000 against 257,000 for the first estimate.
The unemployment rate stood at 5.5% in February, slipping two-tenths of points compared to January (5.7%). Analysts were betting on 5.6%.
These good figures involved 10 days of a meeting of the Federal Reserve (Fed) studying whether to prepare markets for a first rate hike of interest this summer saw the recovery of the economy.
In one year, the unemployment rate declined by 1.2 percentage point and the economy created 1.7 million jobs.
In February, many sectors hired more than what is in catering, business services, construction, health care and transportation, says the Ministry of Labour.
Among the few sectors to have debauched appears as mining, reflecting the decline in activity in oil producers due to falling prices.
The average hourly wage, highly observed by the Fed would like to see prices and wages rise further, gained 3 cents to 24.78 dollars. In one year, average hourly earnings increased by 2%, slightly above inflation.
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