CBIA economist Pete Gioia called today's unemployment figures "welcome news," while warning that economic recovery in Connecticut and the United States remains fragile.
"The national jobs report for February is welcome news as we see not only solid numbers for the month but upward revisions to the last two months’ reports," Gioia (pictured above) said.
"However, downside risk from higher oil prices is on the rise. Overall, we are still in a fragile recovery and have real risks to be concerned about."
The U.S. Labor department reported the economy added a net 192,000 jobs last month, with 222,000 in job gains from private employers.
The unemployment rate dropped below 9 percent for the first time in nearly two years, falling 0.9 points to 8.9 percent.
February’s numbers represented the fastest growth in nearly a year, although that could more reflect the unusually depressing January employment numbers.
Regional and state employment and unemployment numbers were scheduled for release by the department on March 10.