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Economy gains 273,000 jobs, unemployment rate 3.5 %

U.S. Employment Report



The nonfarm payrolls grew 273,000 in February, as faster hiring puts more money in the hands of consumers, what usually leads to an increase in spending,
In February the U.S. economy added 273,000 jobs on the seasonally adjusted basis and the jobless rate fell to 3.5 %, from 3.6 %, reported by the Labor Department.


As the year goes on, companies have been hiring at a faster clip as Americans increase spending and consumer confidence rises, economists have seen a steady improvement in the jobs market and recruiting activity.
Current report confirms positive trends in the nonfarm payrolls. Total number of employed persons in the U.S. rose by 0.03 % to 158,76 millions, the health care and social assistance sectors hired 56,500 employees , the retail sector has lost -7,000 jobs.


At Feb. 2020 Total number of unemployed persons deacreased to 5.79 millions, a deacrease of 105.00 thousands or -1.78 % from Jan. 2020, Unemployment rate decreased to 3.50 %, from 3.60% in previous month. In February 273,000 nonfarm payrolls were created.


Labor force
Average hourly earnings grew modestly in February by 0.28 % to $28.52, an increase of $0.08 from $28.44 in January on the seasonally adjusted basis, the biggest increases occurred in transportation and warehousing to $25.13, the hourly wages in information sector fell the most to $43.02, reported by the Labor Department.
On a year-over-year basis, earnings were up 3.11 %, This is above the % year-over-year increase in the consumer price index in February.

The number of employed persons increased to 158.76 millions by 45.00 thousands or 0.03 % in Feb. 2020.

Total Labor force deacreased to 164.55 millions.
Average weekly earnings where $981.09 dollars, in Feb. 2020


Average Weekly Hours of Production


 Employement situation (Picture Autor: Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954) The official unemployment rate does not tell the whole story since it does not count discouraged workers who recently stopped looking for a job. Unemployment decreased to 5.79 million, a decrease by -105,000 from 5.89 million in January by -1.78 % on the seasonally adjusted basis.
What's more, the drop in the unemployment rate in February stemmed mainly from a decline in the labor force as discouraged job seekers stopped looking for work, the labor force participation rate has held steady at 63.40 %.


Construction Industry grew to 39.30 hours per week, from Jan. 2020; Manufacturing Industry rose to 40.70 hours per week, Durable goods Industry increased to 48.00 hours per week, Nondurable goods Industry advanced to 40.00 hours per week.

Average Weekly Hours of Production for private serviceproviding industry rose to 33.30 hours per week, from Jan. 2020; Trade, transportation & utilities Industry grew to 34.30 hours per week, from Jan. 2020 .

Financial activities Industry Average Weekly Hours of Production remained unchanged from Jan. 2020.
Average workweek grew in February by 0.29 % to 34.40 hours, an increase of $0.10 from 34.30 in January on the seasonally adjusted basis, hours worked at the durable goods manufacturers grew at the highest pace to 48.00 hours, the utilities showed low overall growth to 42.60 hours, reported by the Labor Department.
With modest growth in hourly earnings and growth in hours worked, average weekly earnings increased in the private sector to $981.09 from $975.49 in the previous month.

Information Industry Average Weekly Hours of Production remained unchanged from Jan. 2020; Professional & business services Industry increased to 36.20 hours per week, from Jan. 2020;
Education & health services Industry advanced to 33.10 hours per week, from Jan. 2020; Leisure & hospitality Industry fell to 25.80 hours per week, from Jan. 2020; Other services Industry fell to 31.90 hours per week, from Jan. 2020.





Employment Situation
( in millions or %)
Feb. 2020

prel.
Jan. 2020

prel.
Dec. 2019

prel.
Nov. 2019

prel.
Oct. 2019

prel.
Sep. 2019

prel.
Unemployment rate
3.5 % 3.6 % 3.5 % 3.5 % 3.6 % 3.5 %
Number of unemployed persons
5.787 5.892 5.753 5.811 5.855 5.769
Number of Employed persons
158.759 158.714 158.803 158.593 158.510 158.269
Employment/population ratio
61.1 % 61.2 % 61 % 61 % 61 % 61 %
Civilian labor force
164.546 164.606 164.556 164.404 164.364 164.039
Participation rate
63.4 % 63.4 % 63.2 % 63.2 % 63.3 % 63.2 %
Civilian noninstitutional population
259.628 259.502 260.181 260.020 259.845 259.638
Persons who currently want a job outside CLF
4.962 4.904 4.832 4.831 4.753 4.880
EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)
Feb. 2020
prel.
Jan. 2020
prel.
Dec. 2019
prel.
Nov. 2019
prel.
Oct. 2019
prel.
Sep. 2019
prel.
Nonfarm Payrolls
+273.0 +225.0 +145.0 +266.0 +128.0 +180.0
Total Private Payrolls
+228.0 +206.0 +139.0 +254.0 +131.0 +167.0
Goods-producing Payrolls
+61.0 +32.0 -1.0 +48.0 -26.0 +7.0
Mining & logging
+4.0 - -9.0 -7.0 - +1.0
Construction
+42.0 +44.0 +20.0 +1.0 +10.0 +11.0
Manufacturing Payrolls
+3.2 +3.1 +3.2 +3.1 +3.2 +3.2
Durable goods
+11.0 -11.0 -7.0 +44.0 -41.0 -6.0
Motor vehicles and parts
+6.8 -10.6 -0.8 +41.3 -41.6 -3.5
Nondurable goods
+4.0 -1.0 -5.0 +10.0 +5.0 +1.0
Private service-providing Payrolls
+167.0 +174.0 +140.0 +206.0 +157.0 +160.0
Wholesale trade
-2.6 +8.4 +8.3 -4.3 +10.8 +7.1
Retail trade
-7.0 -8.3 +41.2 +2.0 +6.1 +6.7
Transportation and warehousing
-4.0 +28.3 -10.4 +15.5 +9.9 +6.3
Information
+4.0 +5.0 +3.0 +13.0 -4.0 +4.0
Financial activities
+26.0 -1.0 +6.0 +13.0 +16.0 +8.0
Professional and business services
+41.0 +21.0 +10.0 +38.0 +22.0 +37.0
Temporary help services
-3.3 -1.5 +6.4 +4.8 -8.1 +20.1
Education and health services
+54.0 +72.0 +36.0 +74.0 +39.0 +49.0
Health care and social assistance
+56.5 +47.2 +33.9 +60.2 +34.2 +44.8
Leisure and hospitality
+51.0 +36.0 +40.0 +45.0 +61.0 +45.0
Other services
- - - - - -
Government Payrolls
- - - - - -



Civilian labor force
is the sum of employed and unemployed persons.
 
Unemployment Rate
is the number unemployed as a percent of the labor force.
 
Labor force participation rate
is the labor force as a percent of the population.
 
Employment-population ratio
is the employed as a percent of the population.




Average weekly Salary by Industry ($) Feb. 2020

prel.
Jan. 2020

prel.
Dec. 2019

prel.
Nov. 2019

prel.
Oct. 2019

prel.
Sep. 2019

prel.
Total private
981.09 975.49 971.38 973.18 969.39 967.33
Goods producing
1,193.42 1,181.35 1,180.14 1,181.08 1,177.06 1,183.01
Natural resources & mining
1,574.11 1,567.27 1,581.68 1,610.07 1,625.39 1,601.05
Construction
1,232.06 1,219.53 1,213.29 1,215.23 1,216.34 1,227.43
Manufacturing
1,147.74 1,138.07 1,140.08 1,136.03 1,125.98 1,130.36
Overtime hours
- - - - - -
Durable goods
1,422.24 897.49 1,188.97 2,427.37 1,199.52 1,201.64
Nondurable goods
1,028.80 1,018.70 1,014.73 1,012.35 1,007.42 1,009.73
Private serviceproviding
941.72 936.24 931.59 930.93 926.94 924.95
Trade, transportation & utilities
844.81 834.62 838.93 836.47 835.16 833.80
Wholesale trade
1,234.23 1,235.08 1,230.41 1,240.98 1,232.35 1,229.24
Retail trade
620.00 607.93 611.22 607.26 607.41 608.78
Transportation & warehousing
962.48 952.71 969.82 963.46 964.61 962.12
Utilities
1,798.57 1,804.45 1,779.95 1,796.74 1,752.20 1,761.04
 
Information
1,557.32 1,558.77 1,532.71 1,535.13 1,537.17 1,535.92
Financial activities
1,386.69 1,379.92 1,367.14 1,369.49 1,362.25 1,353.38
Professional & business services
1,247.09 1,238.59 1,235.34 1,236.59 1,230.80 1,223.07
Education & health services
924.15 918.72 920.84 920.51 913.11 912.45
Leisure & hospitality
435.25 435.90 432.67 432.67 430.60 430.09
Other services
817.60 818.24 807.08 805.48 800.72 797.86




Average weekly hours of production by Industry Feb. 2020

prel.
Jan. 2020

prel.
Dec. 2019

prel.
Nov. 2019

prel.
Oct. 2019

prel.
Sep. 2019

prel.
Total private
34.40 34.30 34.30 34.40 34.40 34.40
Goods producing
40.40 40.10 40.10 40.20 40.20 40.50
Natural resources & mining
45.60 45.60 45.70 46.20 46.40 46.30
Construction
39.30 39.10 39.00 39.10 39.30 39.80
Manufacturing
40.70 40.40 40.50 40.50 40.30 40.50
Overtime hours
- - - - - -
Durable goods
48.00 30.30 40.10 82.20 40.80 40.90
Nondurable goods
40.00 39.70 39.70 39.70 39.60 39.80
Private serviceproviding
33.30 33.20 33.20 33.20 33.20 33.20
Trade, transportation & utilities
34.30 33.90 34.20 34.10 34.20 34.20
Wholesale trade
38.80 38.90 38.90 39.00 38.90 38.90
Retail trade
30.80 30.20 30.50 30.50 30.60 30.70
Transportation & warehousing
38.30 38.20 38.70 38.40 38.60 38.50
Utilities
42.60 42.80 42.40 42.80 42.10 42.10
 
Information
36.20 36.20 36.20 36.30 36.40 36.50
Financial activities
37.60 37.60 37.60 37.80 37.60 37.50
Professional & business services
36.20 36.10 36.10 36.20 36.20 36.10
Education & health services
33.10 33.00 33.10 33.10 33.00 33.00
Leisure & hospitality
25.80 25.90 25.80 25.80 25.80 25.80
Other services
31.90 32.00 31.80 31.90 31.80 31.80




Average hourly earnings ($) Feb. 2020

prel.
Jan. 2020

prel.
Dec. 2019

prel.
Nov. 2019

prel.
Oct. 2019

prel.
Sep. 2019

prel.
Total private
28.52 28.44 28.32 28.29 28.18 28.12
Goods producing
29.54 29.46 29.43 29.38 29.28 29.21
Natural resources & mining
34.52 34.37 34.61 34.85 35.03 34.58
Construction
31.35 31.19 31.11 31.08 30.95 30.84
Manufacturing
28.20 28.17 28.15 28.05 27.94 27.91
Overtime hours
- - - - - -
Durable goods
29.63 29.62 29.65 29.53 29.40 29.38
Nondurable goods
25.72 25.66 25.56 25.50 25.44 25.37
Private serviceproviding
28.28 28.20 28.06 28.04 27.92 27.86
Trade, transportation & utilities
24.63 24.62 24.53 24.53 24.42 24.38
Wholesale trade
31.81 31.75 31.63 31.82 31.68 31.60
Retail trade
20.13 20.13 20.04 19.91 19.85 19.83
Transportation & warehousing
25.13 24.94 25.06 25.09 24.99 24.99
Utilities
42.22 42.16 41.98 41.98 41.62 41.83
 
Information
43.02 43.06 42.34 42.29 42.23 42.08
Financial activities
36.88 36.70 36.36 36.23 36.23 36.09
Professional & business services
34.45 34.31 34.22 34.16 34.00 33.88
Education & health services
27.92 27.84 27.82 27.81 27.67 27.65
Leisure & hospitality
16.87 16.83 16.77 16.77 16.69 16.67
Other services
25.63 25.57 25.38 25.25 25.18 25.09







Source: Department of Labor
Picture Autor: (Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954)




     
       
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