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U.S. small business confidence up in February

Xinhua, March 11, 2015 Adjust font size:

The U.S. small business confidence rose in February as job market kept moving forward, a leading industry association said Tuesday.

The National Federation of Independent Business (NFIB) said its Small-Business Optimism Index rose 0.1 point to 98 in February a solid result despite some unfavorable conditions.

"In spite of slow economic activity and awful weather in a lot of the country, small business owners are finding reasons to hire and spend which is great news," said Bill Dunkelberg, NFIB chief economist.

"Of the ten components, owners reporting hard-to-fill job openings was the largest gain increasing three points to a 29 percent which is a nine year high," said Dunkelberg.

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

Over 99 percent of all employing organizations in the United States are small businesses, which employ half of the country's labor force. Endite