US adds 235,000 jobs

Indo Asian News Service

Washington, March 11 (IANS) The US added a robust 235,000 jobs in February, while the unemployment rate fell to 4.7 per cent, official data showed.

The data released on Friday exceeded expectations and continued the 77-month-long expansion of the labour market that started under former President Barack Obama. Job gains have averaged 209,000 over the past three months, The Hill magazine reported.

White House press secretary Sean Spicer said: "Not a bad way to start day 50 of this administration."

The strong numbers are all but certain to ensure the Federal Reserve raises rates during its meeting next week.

President Donald Trump has vowed to bring jobs back to the US behind tax reform that his administration said will in turn accelerate the nation's economic growth.

Growth was slightly slower than January, which was revised up to 238,000 jobs, the Labour Department reported on Friday. Employment gains were 9,000 more than previously reported.

Retailers posted 26,000 job losses after a gain of 40,000 in January.

--IANS

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