U.S. employers stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row.
Employers added 243,000 jobs in January, the Labor Department reported Friday, marking a pick-up in hiring from December, when the economy added 203,000 jobs. Meanwhile, the unemployment rate fell to 8.3% from 8.5%.
The report was stronger than most economists had expected. But the job market still has a long way to go to fully recover from the financial crisis. The economy still needs to add about 6 million jobs to get back to 2008 employment levels.
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