Categories: Retirement Planning and Investing

U.S. Payrolls Rise 175,000; Unemployment Rate Climbs to 6.7 Percent

Roger Wollstadt, Flickr

U.S. Payrolls Rise 175,000; Unemployment Rate Climbs to 6.7 Percent (Bloomberg)

Employers added more workers than projected in February, indicating the U.S. economy is starting to recover from a weather-induced setback. However, the jobless rate unexpectedly climbed to 6.7 percent from a five-year low of 6.6 percent as an increased number of people entered the workforce and could not find jobs. The 175,000 gain in employment followed a revised 129,000 increase the prior month that was bigger than initially estimated, Labor Department figures showed. The median forecast of economists in a Bloomberg survey called for a 149,000 advance in February. The report lends hope for the economy’s prospects, after winter storms and freezing temperatures across the eastern United States slowed consumer spending, housing and manufacturing. Lowe’s Cos. is among the companies adding jobs, setting the stage for further gains as Americans return to stores in increased numbers.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.