The economy added 227,000 jobs in February and surpassed economists’ expectations, according to the U.S. Bureau of Labor Statistics. Employment improved in professional and business services, health care and social assistance, leisure and hospitality, manufacturing, and mining. The official unemployment rate was unchanged at 8.3 percent. The gains make it seven-straight months with at least 100,000 jobs added, which is the longest streak since 2005. Continued improvement in the labor market, combined with high affordability and increasing consumer confidence, is key to a significant and sustained housing-market recovery. More here and here.
