The US labor market seems to be gaining momentum after a debacle last year. The unemployment rate in the country was found out be 9.7% in the month of February.

A Labor Department report has suggested that the jobless rate has not been increased since October 2009. It was standstill at 9.7% for a few months. Payrolls have dropped by 36,000 in February as compared to 26,000 in the previous month.

The job cut was very less during this period of time. Even more people were hired for various jobs inside the country. The market experts are considering this as a positive sign for the labor market in US. Despite some of the businesses have been forced to close their operation temporarily due to the East Coast blizzards, the market has still found reasons to groom.

Stocks as well as dollar prices have gone up. Now, the country needs to have a sustainable growth in employment so that it can move out of the recession which has made more than 8.4 million people jobless since December,
2007.