From The Associated Press:
The median forecast of Wall Street economists polled a week ago was for a nonfarm payroll gain of 220,000 jobs...
U.S. employers created 262,000 jobs last month, the biggest gain in four months and double January's pace, as auto workers returned from temporary layoffs and construction activity snapped back from a cold January, the government said on Friday.
In other Financial News:
U.S. factory orders unexpectedly rose 0.2 percent in January on electrical equipment strength while a gauge of business spending also posted solid gains, a government report showed on Friday.
The rise in factory orders to a seasonally adjusted $380.53 billion defied Wall Street expectations for a 0.1 percent drop.
UPDATE: The stock market has taken notice of the excellent data despite The Associated Press' attempts to downplay the good news with headilines like; Job Gains Strong, But Jobless Rate Climbs.
UPDATE: Oil Prices Cooling - A sharp rally in oil prices to near-record peaks stalled on Friday after OPEC-member Nigeria said the cartel may agree later this month to raise output to cool the red-hot market.
U.S. light crude was off 7 cents to $53.50 a barrel, after dropping as low as $52.90. A rally that started at midweek had prices briefly within 50 cents of last October's $55.67 record.
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