Morning Money Memo…
The Labor Department says 175,000 new jobs were created in February, more than expected, and good news for Wall Street investors. Stock futures jumped on the news. The US unemployment rate rose slightly to 6.7 percent. January's job creation estimate was also revised higher to 129,000.
More Americans started looking for work but didn't find jobs. That's still an encouraging sign because more job hunters suggests that people were more optimistic about their prospects.
The numbers are a welcome surprise after recent economic reports showed that harsh weather closed factories, lowered auto sales, and caused existing-home sales to plummet.
Business leaders are more confident about economic growth, and that could be a big plus for jobs in the coming months.
"We're getting a little more comfortable that the economy can sustain growth," says James Morrison, CFO of Teknor Apex company, commenting on positive findings in the American Institute of CPA's quarterlyRead More »from February Jobs Report Shows Surprising Strength