U.S. job growth totaled 275,000 in February but unemployment rate rises to 3.9%
Source: CNBC
Published Fri, Mar 8 2024 8:31 AM EST Updated 26 Min Ago
Job creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn’t near as hot as initially reported.
Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%, the Labor Department reported Friday. Economists surveyed by Dow Jones had been looking for payroll growth of 198,000, a step slower from the downwardly revised gain of 229,000 in January. The December gain also was revised down to 290,000 from 333,000.
The jobless level increased even though the labor force participation rate held steady at 62.5%.
Average hourly earnings, watched closely as an inflation indicator, showed a slightly less than expected increase for the month and a deceleration from a year ago. Wages rose just 0.1% on the month, one-tenth of a percentage point below the estimate, and were up 4.3% from a year ago, below the 4.5% gain in January and slightly below the 4.4% estimate.
Read more: https://www.cnbc.com/2024/03/08/jobs-report-february-2024-us-job-growth-totaled-275000.html
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Payroll employment rises by 275,000 in February; unemployment rate increases to 3.9%#JobsReport #BLSData https://bls.gov/news.release/empsit.nr0.htm
8:38 AM · Mar 8, 2024
Article updated.
Previous articles -
Job creation topped expectations in February and pointed to a still-vibrant U.S. labor market, even though the unemployment rate moved higher
Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%. Economists surveyed by Dow Jones had been looking for payroll growth of 198,000, a step slower from the downwardly revised gain of 229,000 in January. The December gain also was revised down to 290,000 from 333,000.
The jobless level increased even though the labor force participation rate held steady at 62.5%.
Average hourly earnings, watched closely as an inflation indicator, showed a slightly less than expected increase for the month and a deceleration from a year ago. Wages rose just 0.1% on the month, one-tenth of a percentage point below the estimate, and were up 4.3% from a year ago, below the 4.5% gain in January and slightly below the 4.4% estimate.
Job creation eased slightly in February though still topped expectations and pointed to a vibrant U.S. labor market, even though the unemployment rate moved higher
Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%. Economists surveyed by Dow Jones had been looking for payroll growth of 198,000, a step down from the big surges of the previous two months.
Average hourly earnings showed a slightly less than expected increase for the month and a deceleration from a year ago.
This is breaking news. Please check back here for updates.
Nonfarm payrolls were expected to increase by 198,000 in February, according to the Dow Jones consensus estimate.
This is breaking news. Please check back here for updates.
Original article/headline -
Published Fri, Mar 8 2024 8:31 AM EST
Nonfarm payrolls were expected to increase by 198,000 in February, according to the Dow Jones consensus estimate.
This is breaking news. Please check back here for updates.
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