By Anthony B. Sanders
The Bureau of Labor Statistics has released their report for February. In a nutshell, 313k jobs were added, Labor Force Participation increased to 63%, but YoY average hourly earnings fell to 2.6%.
Total nonfarm payroll employment increased by 313,000 in February, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today.
Employment rose in construction, retail trade, professional and business services,
manufacturing, financial activities, and mining.
Household Survey Data
In February, the unemployment rate was 4.1 percent for the fifth consecutive month,
and the number of unemployed persons was essentially unchanged at 6.7 million.
(See table A-1.)
Among the major worker groups, the unemployment rate for Blacks declined to 6.9
percent in February, while the jobless rates for adult men (3.7 percent), adult
women (3.8 percent), teenagers (14.4 percent), Whites (3.7 percent), Asians (2.9
percent), and Hispanics (4.9 percent) showed little change. (See tables A-1, A-2,
The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.4 million in February and accounted for 20.7 percent of the unemployed.
Over the year, the number of long-term unemployed was down by 369,000. (See table A-12.)
The civilian labor force rose by 806,000 in February. The labor force participation rate increased by 0.3 percentage point over the month to 63.0 percent but changed little over the year. (See table A-1.)
In February, total employment, as measured by the household survey, rose by 785,000.
Continue reading Jobs Friday! 313K Jobs Added [Higher Than Expected]