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U.S. adds 295,000 jobs in Feb. as unemployment rate falls to 5.5 pct

Xinhua, March 6, 2015 Adjust font size:

The U.S. economy added 295,000 jobs in February as the unemployment rate fell to 5.5 percent, the latest sign of steady improvement in the job market, the Labor Department reported Friday.

Economists had expected an increase of 240,000 jobs last month and an unemployment rate at 5.6 percent.

The better-than-expected jobs report demonstrated that U.S. economic recovery had picked up and fueled expectations that the Federal Reserve would start raising its benchmark short-term interest rates later this year. Endi