U.S. Unemployment Rate Steady at 9.7%

Despite losing another 36,000 jobs in February, the U.S. Labor Department says the country’s unemployment rate remained steady at 9.7 percent. That agency also noted that recent snowstorms along the eastern seaboard were at least partly responsible for the job losses.

The overall rate of job losses has slowed of late, and the unemployment rate had not increased since October, and this has some analysts suggesting that job losses have bottomed-out. Nevertheless, 14.9 million remain unemployed and 8.4 million jobs have disappeared since the recession first hit the U.S. economy.

Source: Associated Press

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