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Jobless Rate at Lowest Point in Almost Seven Years 03-17-15 | News
Jobless Rate at Lowest Point in Almost Seven Years





The construction industry added 29,000 jobs in February, which was more than most industries, with only mining/logging reporting a decrease in positions.
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The February job numbers indicate a U.S. economy that continues to strengthen, and a construction industry that is following suit.

As reported by the Bureau of Labor Statistics, the unemployment rate inched down from 5.7 percent to 5.5 percent, which is the lowest level in over six years thanks to the 295,000 jobs added last month – 29,000 of those in construction. Leisure and hospitality was once again the biggest contributor to the overall total with 66,000 new jobs.

On the minus side, the labor force participation rate dropped slightly to 62.8 percent in February, near modern lows, indicating people continue to drop out of the labor force. According to Jeffry Bartash of MarketWatch, when taking into account the 17.5 million people too discouraged to look for work or only able to obtain part-time work, the nation's unemployment rate is 11 percent.








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