The Bureau of Labor Statistics (BLS) reported that U.S. nonfarm payrolls fell by 92,000 in February. Employment in healthcare decreased, largely due to strike activity. Employment in information and federal government continued to trend down. The unemployment rate was 4.4%, up slightly from 4.3% in January.
The number of unemployed people changed little in February, at 7.6 million. The labor force participation rate also changed little over the month, at 62.0%.
The unemployment rate for individuals with some college or an associate degree declined slightly to 3.5%; while the rate remained at 3.0% for those with a Bachelor’s degree and higher.
Employment showed some gains in Social Assistance (+9,000), and changed little or declined in other sectors including:
- Healthcare (–28,000)
- Information (–11,000)
- Government (–10,000)
Average hourly earnings for all employees on private nonfarm payrolls rose by 15
cents, or 0.4 percent, to $37.32. Over the past 12 months, average hourly earnings have increased by 3.8%.
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