Economy sheds fewer jobs than expected (Unemployment rate remains unchanged at 9.7%)

[HughMoran]

Unemployment rate remains unchanged at 9.7 percent in February

WASHINGTON - U.S. employers cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate steady at 9.7 percent, bolstering views the labor market was on the brink of creating jobs.

The Labor Department said on Friday it was unclear how severe weather, which slammed much of the country last month, had impacted payrolls. Jobs losses for December and January were revised to show 35,000 fewer jobs lost than previously reported.

Analysts polled by Reuters had expected non-farm payrolls to drop 50,000 last month and the unemployment rate to edge up to 9.8 percent. The median forecast from the 20 most accurate forecasters also saw payrolls falling by 50,000, while the 10 most accurate economists predicted a 70,000 decline.

http://www.msnbc.msn.com/id/35723202/ns/business-stocks_and_economy/