WASHINGTON - The pace of hiring in the U.S. slowed sharply in February as the economy added just 20,000 new jobs, marking the smallest increase in 17 months.
The number of new nonfarm jobs created last month was well below the 172,000 MarketWatch forecast, but the slowdown was probably exaggerated by seasonal oddities that are unlikely to persist. The U.S. has been adding more than 200,000 new jobs a month for the past year. The jobless rate fell to 3.8% in February from 4%, mostly because fewer people said they were unemployed. The average wage paid to American workers, meanwhile, rose 11 cents, or 0.4%, to $27.66 an hour.
See Full Story U.S. adds meager 20,000 jobs in February to mark smallest increase in 17 months American businesses and other employers created the fewest new jobs in February in 17 months, the latest sign of a broader slowdown in the U.S. economy. The economy added just 20,000 new jobs last month, but in some good news, unemployment fell and wages rose sharply.
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