The American economy is getting stronger, the U.S. Bureau of Labor Statistics reported March 8.
In February, about 236,000 jobs were added, which was roughly 71,000 more than what was expected.
“Analysts had forecast a rise of 165,000 jobs for February,” the BBC reported.
The unemployment rate also decreased in February from 7.9 percent to 7.7 percent, which is the lowest unemployment rate since
December 2008.
WorldWideMarkets chief market strategist, Joseph Trevisani, told the BBC, “The economy is producing more than twice as many jobs as it did at the low point in the second quarter of last year.”
Professional and business services added 73,000 new jobs, the construction industry hired 48,000 employees, health care added 32,000 jobs and retail employment added 24,000 staff in February alone.
The BBC said the U.S. dollar also recently gained value on the euro
and yen.
The Dow Jones index is also up by 62.23 points.
Additionally, a Feb. 1 report by the U.S. Bureau of Labor Statistics said 157,000 jobs were created in January.
The construction industry added 28,000 jobs, health care added 23,000, wholesale trade added 15,000 and mining employment added 6,000.
“Today’s employment report provides evidence that the recovery that began in mid-2009 is gaining traction,” Chairman of the Council of Economic Advisers Alan Kruger said in a White House release.
