WASHINGTON (AP) – The American job market isn’t just growing. It’s accelerating.

Employers added 236,000 jobs in February and drove down the unemployment rate to 7.7 percent, its lowest level in more than 4 years. The gains signal that companies are confident enough in the economy to intensify hiring even in the face of tax increases and government spending cuts.

Last month capped a 4-month hiring spree in which employers have added an average of 205,000 jobs a month. The hiring has been fueled by steady improvement in housing, auto sales, manufacturing and corporate profits, along with record-low borrowing rates.