The February 2025 Jobs Report saw the unemployment rate increase slightly to 4.1% from 4.0% the month prior. According to the most recent report released by the Bureau of Labor Statistics (BLS), non-farm payrolls increased by 151,000, which was less than expected. The number of unemployed people increased slightly to 7.1 million in February compared to 6.8 million in January.
The unemployment rate for college-degreed professionals 25 years and older increased from 2.3% in January to 2.5% in February. Unemployment with job seekers with some college or an associate degree remained unchanged at 3.5%.
Health care, financial activities, transportation and warehousing, and social assistance saw notable job gains.
Jobs added by industry:
- Health Care: 52,000 jobs added
- Financial Activities: 21,000 jobs added
- Transportation and Warehousing: 18,000 jobs added
- Social Assistance: 11,000 jobs added
Wage growth as expected: 10 cents in February 2025
According to the report, average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents or 0.3% to $35.93. Over the past 12 months, average hourly earnings have increased by 4.0%.
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Sources: BLS, CNBC
