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Home Economy

275,000 jobs added in February, unemployment rate increased to 3.9%

March 8, 2024
Reading Time: 1 min read
What’s Delaying the Jobs Recovery?

Total nonfarm payroll employment increased by 275,000 in February, and the unemployment rate increased to 3.9%.

Job gains occurred in health care, government, food services and drinking places, social assistance, and transportation and warehousing.

Health care added 67,000 jobs in February, above the average monthly gain of 58,000 over the prior 12 months. In February, job growth continued in ambulatory health care services (+28,000), hospitals (+28,000), and nursing and residential care facilities (+11,000).

Government employment rose by 52,000 in February, about the same as the prior 12-month average gain (+53,000). Over the month, employment continued to trend up in local government, excluding education (+26,000) and federal government (+9,000).

Employment in food services and drinking places increased by 42,000 in February, after changing little over the prior 3 months.

Social assistance added 24,000 jobs in February, about the same as the prior 12-month average gain of 23,000. Over the month, job growth continued in individual and family services (+19,000).

Employment in transportation and warehousing rose by 20,000 in February. Couriers and messengers added 17,000 jobs, after losing 70,000 jobs over the prior 3 months. In February, job growth also occurred in air transportation (+4,000), while warehousing and storage lost 7,000 jobs. Employment in the transportation and warehousing industry is down by 144,000 since reaching a peak in July 2022.

Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; whole sale trade; information; financial activities; professional and business services; and other services.

Read the BLS release.

Tags: Employment situation
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