U.S. economy exceeds expectations with large job gains during the month of February, according to Labor Department figures.
Recently released job numbers indicate that employment was up again in February as the economy added 227,000 jobs last month, significantly outperforming earlier estimates of 210,000 new jobs.
The report revealed that although private sector employers added 233,000 jobs in February, the public sector job market shrank by 6,000 jobs – confirming the notion that for the foreseeable future, job seekers are better off tailoring the job searches to private sector firms.
But despite public sector setbacks, February’s job growth appears to reveal a trend of continuing momentum in the job market and the economy as a whole.
According to Secretary of Labor Hilda L. Solis, “U.S. labor force participation is on the rise. The American people are more confident that they can find work because they see a strengthening economy . . . By coming together on the challenges before us, we can continue to quicken the pace of our recovery and put more Americans back to work.”