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Saturday, March 9, 2013

Wells Fargo Weekly Economic Data

• Nonfarm payrolls increased by a stronger-than-expected 236,000 jobs in February. Average hours worked and earnings also rose, which bodes well for income growth.

• The unemployment rate fell to 7.7 percent from 7.9 percent on the back of an increase in household employment and a drop in the labor force.

• The ISM non-manufacturing index posted another solid reading in February. The index rose to 56 with gains across most categories.

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