From the FINANCIAL TIMES:
The US unemployment rate held steady at 9.7 per cent last month, reviving hopes that the economic recovery is gathering steam even as the pace of job losses accelerated slightly.
American businesses and the government shed 36,000 positions in February – a faster rate than the 26,000 job losses in January.
However, the data were significantly better than predictions by most economists, who had expected a raft of winter storms in the north-east and mid-Atlantic regions during the month to raise the tally of losses to more than 60,000.
“The February jobs report suggests that the economy is on the verge of creating jobs, and that it will break through to sustained job creation beginning in March,” said Nigel Gault, chief US economist at IHS Global Insight…
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