By CountingPips.com
Today’s government nonfarm payrolls employment data came in better than expected with a gain of 192,000 jobs for February and the unemployment rate fell to 8.9 percent. The February data marked the fastest pace of hiring in almost a year and follows a revised gain of 63,000 jobs in January. Market forecasters and economists were 
expecting the nonfarm payroll report to show a gain of approximately 185,000 jobs and the unemployment rate to rise to 9.1 percent for the month.
The unemployment rate, at 8.9 percent, fell from 9.0 percent in January and has reached its lowest point in nearly 2 years.
December’s employment data was also revised higher to show an increase of 152,000 jobs after a gain of 121,000 jobs previously reported.
Private companies created 222,000 jobs in February as the service sector added 152,000 jobs and the goods producing sector increased by 70,000 jobs. Government hiring fell by 30,000 workers for the month.
Professional and business services led the way in the service sector with job creation of 47,000 workers while education and health services hiring added 40,000 jobs in February. In the goods producing sector, manufacturing jobs rose by 33,000 workers while construction jobs increased by 33,000 workers.
US Dollar mixed in early US session Fx Trade
The US dollar has been mixed in volatile forex trading action following the monthly government jobs report released today. The American currency has been gaining versus the British pound sterling, Japanese yen, Australian dollar and the New Zealand dollar today while showing a decline versus the euro, Swiss franc and the Canadian dollar at time of writing.
