(MENAFN) The US economy added 295,000 jobs in February as the unemployment rate fell to 5.5 percent, the latest sign of steady improvement in the job market, Xinhua reported.
However, the figures outperformed market expectations, as economists had expected an increase of 240,000 jobs last month, with an unemployment rate at 5.6 percent.
The better-than-expected jobs report demonstrated that US economic recovery had picked up and fueled expectations that the Federal Reserve would start raising its benchmark short-term interest rates.
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