American economy added 242,000 jobs last month, far more than expected

America's jobless rate is now at its lowest level in eight years. (Eric Gay/Associated Press)

The United States added 242,000 new jobs in February and the unemployment rate stayed steady at an eigh-year low of 4.9 per cent.

New data out of the Bureau of Labour Statistics Friday showed the American job market was far more robust than anticipated last month. The consensus view among economists polled by Bloomberg was for America to only have added 195,000 jobs.

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