175,00 Jobs Added To Economy In February

jjiuThe Labor Department reported today that the U.S. economy added 175,00 non-farm payroll jobs in February, higher than the 149,000 estimate from briefing,com while the unemployment rate moved up to 6.7 percent from 6.6 percent.

The labor force participation rate was unchanged at 63.0 percent in February.

The change in total nonfarm payroll employment for December was revised  higher from 75,000 to 84,000 while January was revised higher from 13,000 to 129,000.

Overall employment gains in December and January were 25,000 higher than previously reported.

Job growth has averaged 189,000 per month over the prior 12 months.

The average workweek for all employees on private nonfarm payrolls moved lower by 0.1 hour to 34.2 hours in February.

In February, average hourly earnings for all employees on private nonfarm payrolls increased by 9 cents to $24.31.

For the year, average hourly earnings increased by 52 cents, or 2.2 percent.

Wholesale trade added 15,000 jobs in February, with most of the increase coming in durable goods with a gain of 12,000.

Employment in food services and drinking places added 21,000 jobs in February.

Construction changed little with an increase of 15,000.

Over the past year, construction has added 152,000 jobs.

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