Job growth weakest in 2 years

Payroll growth was the weakest in two years in February but a lower unemployment rate and a revision higher for January job growth hinted at surprising resilience in the nation's labor market.

The economy created 97,000 jobs last month, the Labor Department said, down from a revised 146,000 gain in January, which was 35,000 more than the government's original estimate a month ago.

The gain of 97,000 was the smallest since January 2005, weaker than even the final readings in the two months after Hurricane Katrina that fall. But it was roughly in line with the forecasts of economists surveyed by Briefing.com, who had been looking for a gain of 100,000 jobs.

Read more...