Mar 8, 2013 / 10:39 am
A burst of hiring last month added 236,000 U.S. jobs and reduced the unemployment rate to 7.7 per cent from 7.9 per cent in January. The robust gains suggested that the economy can strengthen further despite higher taxes and government spending cuts.
The February jobs report issued Friday by the Labor Department provided encouraging details: The unemployment rate is at its lowest level in four years. Job growth has averaged more than 200,000 a month since November. Wages rose. And the job gains were broad-based, led by the most construction hiring in six years.
Employers have been emboldened by a rebounding U.S. economy. The housing, auto and manufacturing sectors have improved. Corporate profits are strong. And the Dow Jones industrial average is at a record high.
The unemployment rate, which had been stuck at 7.8 per cent or above since September, declined mostly because more people found work. Another factor was that 130,000 people without jobs stopped looking for work last month. The government doesn't count them as unemployed.
The unemployment rate is calculated from a survey of households. The job gains are derived from a separate survey of employers.
Read more Business News
|QHR Technologies Inc||0.62||+0.07|
|Anavex Life Sciences||0.525||-0.005|
|Copper Mountain Mining||1.58||+0.06|
The majority of Canadians prefer to make their big move during the summer season. There are a variety of reasons for choosing this time of year: it is easier to transport boxes in non-icy condition...
It appears as though more people these days are looking for an investment in real estate which offers cash flow returns. The fundamentals of cash flow type properties had been turned upsi...
Getintheloop Marketing Ltd. recently launched their membership platform, Getintheloop.ca. The new website offers an exclusive members area for access to discounts in the South Okanagan on premium res...
- Open for business
- 'Gatsby' earns $51.1M, 'Iron Man' $72.5M
- Chrysler recalls nearly 470,000 SUVs
- Bell not interested in selling more Astral
- Loonie dips over a quarter
- Taxman and the offshore tax havens
- Sharktopus views turns on YouTube TV
- Social media makes Disney blink
- BCE looks to cut $170 million
- TD Bank: Loonie could fall to 90 cents US
- Mixed results for North American markets
- Ex-Enron CEO cuts new deal