February Unemployment Drops to 7.7 Percent

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Some experts are calling the hiring burst in the February jobs report a sign of strong economic growth.

More than 200,000 jobs were added, reducing the unemployment rate to 7.7 percent from 7.9 percent in January. That's the lowest level in four years.

"It seems like the economy is in a relative sweet spot," Scott Anderson, chief economist for the Bank of the West, said.

Increased auto sales and steady housing recovery are spurring more hiring, which could trigger consumer spending.

Mike Dueker, chief economist at Russell Investments, warns that the next few jobs reports might not be as positive, thanks to the government's fiscal tightening.

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