Unemployment Drops to 5.5 Percent

Written by SK Ashby

More jobs were added to the economy, and unemployment dropped to a lower rate, than economists predicted for the month of February.

via Bloomberg

Employers added 295,000 workers to their payrolls last month, more than forecast, and the unemployment rate dropped to 5.5 percent, the lowest in almost seven years, figures from the Labor Department showed Friday in Washington. Hourly earnings rose less than forecast. [...]

The median forecast in a Bloomberg survey of economists called for a 235,000 increase in employment.

"Where are the jobs?" -Speaker Boehner, probably