Economy adds 175,000 jobs, beating forecasts

The job market rebounded from a two-month slump in February as employers added 175,000 jobs, while the unemployment rate rose to 6.7% from 6.6%, the Labor Department said Friday. The report beat most expectations, pumping up stock futures ahead of the market’s opening bell. Economists surveyed by Action Economics estimated that 157,000 jobs were added last month. Businesses added 162,000 jobs, led by strong increases in professional and business services and education and health care. Federal, state and local governments added 13,000 jobs.

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