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This is an archive article published on March 9, 2013
US jobless figures falls to lowest in 4 years
The rate dropped to 7.7 percent as employers added 236,000 jobs in February.
Written by Associated Press
Washington | March 9, 2013 01:00 AM IST
1 min read
1 min read
The US unemployment rate fell to its lowest level in four years,indicating Friday that employers are confident about the economy despite the fiscal austerity triggered by higher taxes and spending cuts.
The rate dropped to 7.7 percent as employers added 236,000 jobs in February.
The payrolls figures gave the dollar a further lift as investors speculated over whether the run of positive US economic news may prompt the Federal Reserve to bring an end to its super-loose monetary policy sooner than previously thought.
World shares rise highest in 4 years
European shares hit their highest level in 4-1/2 years on Friday after robust US jobs data fuelled expectations of a pick-up in global growth. Japans Nikkei too rose to four-year highs on expectation of monetary easing.
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