U.S. unemployment rate edges down

Total nonfarm payroll employment increased by 236,000 in February, and the unemployment rate edged down to 7.7%, reports the U.S. Bureau of Labor Statistics.

Employment increased in professional and business services, construction, and health care.

Read: Canada adds 50,700 jobs in February

And real average hourly earnings for all employees fell 0.6% from January to February, seasonally adjusted. Real average weekly earnings fell 0.2% due to the decrease in real average hourly earnings combined with a 0.3% increase in the average workweek.

Meanwhile, average hourly earnings for employees on private nonfarm payrolls rose by 4 cents to $23.82. Over the year, average hourly earnings have risen by 2.1%.

Also read:

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U.S. budget deal unlikely

Sequestration to hit U.S. economy

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.