Good news for Americans. The US economy has succeeded in creating 227,000 jobs in February-2012 - and the unemployment figure is at 8.3%.
This rate is the lowest in the last three years and much below the level of last year of the corresponding period.
The projection was for 210,000 jobs in February and the actual figure has bettered that.
This positive trend indicates that the measures that have been introduced are paying dividends and that the US economy is improving at a rapid pace. The necessity of additional impetus might cease to exist.
Brief breakdown of areas that have seen job increase are – 82,000 in professional and business services, 31,000 in car manufacturing apart from jobs in the health care and social assistance, leisure and hospitality sectors.
In the words of Paul Ashworth, chief US economist at Capital Economics, the rise in the figures is proof that the US job market has turned a corner.
This improved job scenario would give a boost to the incumbent US President Barack Obama in his bid for a second term in the White House.