The construction industry added 48,000 jobs in February, creating a dose of optimism in a segment of the economy gutted by the 2008 housing crisis.

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The Bureau of Labor Statistics released its jobs report Friday morning, showing the unemployment rate declined to 7.7% in February from 7.9% in January.

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"Despite considerable uncertainty stemming from the fiscal front, businesses have shrugged it off.  The strengthening trend in hiring over the past six months provides some comfort that the economy will be resilient enough to withstand additional headwinds that may lie ahead," said Duncan.

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