U.S. added 235,000 jobs in February, likely giving the Fed the go-ahead for rate hike next week

• March 10, 2017
• realestatelife
• Business & Markets, Real Estate Finance

The U.S. economy added 235,000 net new jobs in February, beating expectations for 190,000 jobs. The unemployment rate ticked down to 4.7% from 4.8%, while the labor force participation rate edged up slightly to 63% from 62.9% in January. Economists had forecast 190,000 job gains, according to the median estimate of a Bloomberg survey. Many analysts expected a healthy showing, noting that mild winter weather likely boosted hiring, particularly in sectors such as construction. Other labor market indicators for February seemed to bolster that view. Payroll processor ADP said businesses added 298,000 jobs. Jobless claims have hovered near 40-year lows. And a measure of service-sector employment hit a five-month high.