The stellar February jobs report — and why the labor market recovery could be fleeting

Employers added 236,000 jobs last month, bringing the unemployment rate down to 7.7 percent. But budget cuts could scuttle progress

A crowded job fair in New York City on March 6.
(Image credit: Spencer Platt/Getty Images)

The Labor Deparment 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 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.

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Ryu Spaeth

Ryu Spaeth is deputy editor at TheWeek.com. Follow him on Twitter.