February Unemployment Rate Holds at 9.7%
The U.S. unemployment rate held at 9.7% in February, the Labor Department said Friday.
Employers trimmed 36,000 jobs, well below the 68,000 that analysts had expected, Bloomberg reported. The unemployment rate was forecast to rise to 9.8%.
The job cuts followed 26,000 cuts in January payrolls, higher than the 20,000 that was originally reported.
Companies cut the fewest number of jobs in February in two years, Bloomberg reported, citing ADP Employer Services data.
Factory payrolls edged up by 1,000 jobs, following a revised 20,000 gain in January. Construction jobs fell 64,000, following a 77,000 decrease.
Service industries added 24,000 workers following a 27,000 gain in January.
