Friday, March 10, 2006

Job growth

U.S. payrolls jumped by 243,000 in February
Job growth was better than economists' forecasts

AP associated press..
Updated: 8:47 a.m. ET March 10, 2006

WASHINGTON - Hiring gained ground in February with employers adding 243,000 jobs, the most in three months. Brighter job prospects sent people streaming into the labor force, however, pushing the unemployment rate up marginally to 4.8 percent.

The employment report issued Friday by the Labor Department showed that job gains were fairly broad based. Construction companies, retailers, financial services all other industries posted payroll increases. That blunted job losses in manufacturing.

The unemployment rate inched up to 4.8 percent from a 4 1/2 year low of 4.7 percent in January. The bump-up in the jobless rate came as people — feeling better about job prospects — applied for work in droves.

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