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March 08, 2013

Despite sequester warnings, unemployment rate falls to 7.7 percent in February

Despite the Obama administration's doomsday warnings about the impact of sequester, hiring picked up last month as the unemployment rate fell to the lowest level in four years. 

The February jobs report released Friday showed the economy added 236,000 jobs, bringing the unemployment rate to 7.7 percent from 7.9 percent the month before. The report comes as the market picks up, with the Dow Jones Industrial Average consistently closing above 14,000 this week. 

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