313,000 Jobs Added in February

Total nonfarm payroll employment grew by 313,000 in February, an increase from last month’s reading of 239,000, according to the Bureau of Labor Statistics. The national unemployment rate remained at 4.1%, maintaining the lowest level since December 2000.

Private service-providing industries gained 187,000 jobs, led by retail trade and professional and business services, adding 50,000 apiece.

Goods-producing employment rose by 100,000 jobs during the month, as gains in construction led by adding 61,000 jobs in February.

The civilian labor force participation rate rose 0.3 percentage point to 63.0%. Workers unemployed for less than 14 weeks increased by 191,000, while the number of long-term unemployed, those jobless for 27 weeks or more, fell by 24,000 and accounted for 20.7% of the unemployed. The number of discouraged workers was 373,000, a 149,000 decrease from a year earlier.

Average hourly earnings rose by 4 cents, settling at $26.75. Over the past year, average hourly earnings have risen by 68 cents, or 2.6%.

Read the BLS release.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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