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Jobless rate falls to 7.7 percent, lowest in 4 years

The jobless rate fell to 7.7 percent in February, according to a report issued by the US Department of Labor on Friday.
Syracuse (WSYR-TV/ABC News) – The jobless rate fell to 7.7 percent in February, according to a report issued by the US Department of Labor on Friday.

According to the report, 236,000 jobs were added to the economy.

The report beat most analysts’ expectations, according to ABC News.

"Private companies, which provide [the] vast majority of new jobs, continue to grow, which is good news for the economy," Brian Hamilton, chairman of the consulting firm Sageworks, told the network.

Hamilton also told ABC News that private companies are seeing strong sales growth, along with profit margins that are comparable to those they enjoyed before the recession.

According to ABC News, economists anticipated the jobless rate to fall to 7.8 percent after adding 171,000 jobs.

For a more complete story, visit ABC News.

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