WASHINGTON (AP) -- U.S. employers ramped up hiring in February, adding 236,000 jobs and pushing the unemployment rate down to 7.7 percent from 7.9 percent in January. Stronger hiring shows businesses are confident about the economy, despite higher taxes and government spending cuts.
The government's February employment report was filled with mostly encouraging details. The unemployment rate is now at its lowest level in four years. Hiring has averaged more than 200,000 per month since November. Wages increased. And the job gains were broad-based, led by the best construction hiring in six years.
One negative detail: employers added fewer jobs in January than first estimated. Job gains were lowered to 119,000 from an initially reported 157,000. Still, December hiring was a little better than first thought, with 219,000 jobs added instead of 196,000.
The White House says the falling unemployment rate is evidence that the economic recovery is "gaining traction."
The jobless rate dropped to 7.7 percent last month, the lowest level since President Barack Obama has been in office. A burst of hiring last month added 236,000 U.S. jobs.
Still, White House economist Alan Krueger noted in a statement Friday that the new unemployment rate was measured before $85 billion in automatic budget cuts started taking effect. The administration has warned that the cuts could have a negative impact on employment and economic growth.
Krueger says the administration is urging Congress to move toward a "sustainable federal budget" by closing tax loopholes, enacting entitlement reforms and cutting spending.
Nevada Senator Harry Reid released the following statement on the February employment report.
"Today's numbers show that our economy is growing, and is poised to grow even faster in the months to come. There is still much work to be done to bring unemployment down in Nevada and across the nation. The first step is to replace the sequester with a balanced combination of smart spending cuts and policies that close wasteful tax loopholes and ask millionaires to pay their fair share. But this can only be done with cooperation from my Republican colleagues.
"The American people expect solutions from their elected officials. It is up to Congress to provide them with the solutions they deserve."
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