Unemployment Rate Drops Unexpectedly In February

The Labor Department says the February jobless rate fell a tenth of a percent to 8.9 percent. The AP says that's the lowest rate in nearly two years. Employers also hired at their fastest pace in a year.

The New York Times points out the separate jobs creation report reveals a huge jump in hiring: 192,000 jobs were created in February, compared to January, when 63,000 new jobs opened up:

The higher growth in (February) payroll employment was partly the result of a bounce back from unusually depressed hiring in January, when snowstorms shuttered offices and factories around the country.