U.S. Adds 236K Jobs; Unemployment Falls to 7.7%
By Patrice Hill
Posted on 03/08/13 | News Source Washington Times |
The nation’s unemployment rate dropped to a four-year low of 7.7 percent last month as job growth accelerated to 236,000, the Labor Department reported Friday morning.
A sizable 246,000 gains in private jobs offset a loss of 10,000 government jobs as governments at all levels continued to pare spending.
That trend is expected to continue this year with the federal government imposing across the board budget cuts of $85 billion.
Read More: Washington Times
Photo Caption: The jobs reports shows that the good times may be starting to spread to the larger economy â€” an outcome long sought at the Fed