Employment report points to steady economic growth

Employers added 157,000 jobs to their payrolls last month. The unemployment rate edged up 0.1 percent point to 7.9 percent. Treasury debt traded slightly higher and the dollar extended losses against the euro. GDP contracted at a 0.1 percent annual rate in the fourth quarter, largely because of a sharp slowdown in the pace of inventory accumulation and a plunge in defense spending.

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Employment report points to steady economic growth