Today in business: 5 things you need to know

The unemployment rate falls, Google cuts jobs at Motorola, and more in our roundup of the business stories that are making news and driving opinion

Google Exec Eric Schmidt: Motorola is taking a hit under Google.
(Image credit: Photo by Spencer Platt/Getty Images)

1. NEW JOBS BRING UNEMPLOYMENT TO LOWEST LEVEL SINCE 2008

The Labor Department on Friday reported that the economy added 236,000 jobs in February, bringing the unemployment rate to 7.7 percent, down from 7.9 percent in January. The jobless rate is now at its lowest level since December 2008 — before Barack Obama was sworn in for his first term as president. The report was almost uniformly positive, greatly outpaced analysts' expectations, and bolstered optimism that the labor market could finally escape the years-long pattern of plodding improvement that has so far characterized the economic recovery. "It's an outstanding report," says TD Bank Group economist Craig Alexander. "Not only are the headlines good but the details are good as well." [Washington Post]

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.