Photograph by Justin Sullivan/Getty Images
A “now hiring” sign is posted in the window of a Chase bank branch on Jan. 4, 2013 in San Rafael, California.
That’s how many months it’s been since the unemployment rate was lower than February’s 7.7 percent.
Last month’s jobless rate was the lowest since December 2008, when the unemployment rate was 7.3 percent and rising amid a deep recession. The jobless rate peaked at 10.0 percent in October 2009 before falling throughout 2011 and 2012.
“Employment rose 236,000 last month after a revised 119,000 gain in January that was smaller than first estimated,” Bloomberg’s Alex Kowalski reported.
“An improving jobs picture and soaring stock market are likely to ease pressure on President Barack Obama and congressional Republicans to resolve a budget standoff even as both sides are dug in for a long struggle,” Bloomberg’s Mike Dorning reported.
