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U.S. Payrolls Rise 175,000; Unemployment Rate Climbs to 6.7 Percent

U.S. Payrolls Rise 175,000; Unemployment Rate Climbs to 6.7 Percent (Bloomberg)

Employers added more workers than projected in February, indicating the U.S. economy is starting to recover from a weather-induced setback. However, the jobless rate unexpectedly climbed to 6.7 percent from a five-year low of 6.6 percent as an increased number of people entered the workforce and could not find jobs. The 175,000 gain in employment followed a revised 129,000 increase the prior month that was bigger than initially estimated, Labor Department figures showed. The median forecast of economists in a Bloomberg survey called for a 149,000 advance in February. The report lends hope for the economy’s prospects, after winter storms and freezing temperatures across the eastern United States slowed consumer spending, housing and manufacturing. Lowe’s Cos. is among the companies adding jobs, setting the stage for further gains as Americans return to stores in increased numbers.

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Employers added more workers than projected in February, indicating the U.S. economy is starting to recover from a weather-induced setback.

archive

U.S. Payrolls Rise 175,000; Unemployment Rate Climbs to 6.7 Percent

Employers added more workers than projected in February, indicating the U.S. economy is starting to recover from a weather-induced setback.

U.S. Payrolls Rise 175,000; Unemployment Rate Climbs to 6.7 Percent (Bloomberg)

Employers added more workers than projected in February, indicating the U.S. economy is starting to recover from a weather-induced setback. However, the jobless rate unexpectedly climbed to 6.7 percent from a five-year low of 6.6 percent as an increased number of people entered the workforce and could not find jobs. The 175,000 gain in employment followed a revised 129,000 increase the prior month that was bigger than initially estimated, Labor Department figures showed. The median forecast of economists in a Bloomberg survey called for a 149,000 advance in February. The report lends hope for the economy??s prospects, after winter storms and freezing temperatures across the eastern United States slowed consumer spending, housing and manufacturing. Lowe??s Cos. is among the companies adding jobs, setting the stage for further gains as Americans return to stores in increased numbers.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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