WASHINGTON (AP) — The unemployment rate held at 9.7 percent in February as employers shed fewer jobs than expected, evidence that the job market may be slowly healing.
The Labor Department said employers cut 36,000 jobs, below analysts’ expectations of 50,000. Analysts expected the jobless rate to rise to 9.8 percent.
The severe snowstorms that hammered the East Coast last month may have affected job losses, but the department wouldn’t quantify the impact.
Other data in the report signaled the storms didn’t have as much impact as feared.