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Fri Mar 6, 2020, 08:54 AM

The U.S. labor market showed strength in February, adding 273,000 jobs

Source: Washington Post

The U.S. economy added 273,000 jobs in February, showing impressive growth and strength even amid recent concerns about coronavirus’ economic fallout. The unemployment rate fell slightly to 3.5 percent. The jobless rate remains near a 50-year low. Analysts had predicted an uptick of 140,000 to 170,000 jobs, including in the health care and professional services sectors. Still, those gains were expected to be tempered by continued losses in retail, mining and manufacturing.

February’s strong performance reflected the calm before the coronavirus panic gripped the global economy. Over the past few weeks, experts have gone from sanguine to increasingly alarmed about the virus’ threat to global growth, as the outbreak has spread to nearly 90 countries and sickened almost 100,000. Global markets have shown volatility and fallen sharply investors monitored the coronavirus’ dampening effect on manufacturing, travel and consumer spending. Analysts are predicting global economic growth could slow to the lowest levels since the financial crisis this quarter.

Stalled production at Chinese factories has dealt blows to toymakers and electronics manufacturers alike, many of whom were already dealing with the unpredictability of President Trump’s trade war with China. Earlier this week, the Federal Reserve took the unusual step up cutting the benchmark U.S. interest rate by half a percentage point, to get ahead of economic and financial fallout from the coronavirus. And while the coronavirus reports have roiled the financial markets all week, most economists estimated the outbreak won’t have impacted hiring across the United State in February.

“In the midst of a news cycle where one hour feels like an entire day, release of the February employment report brings an opportunity for something of a virtual nostalgic throwback,” wrote Bankrate’s Mark Hamrick before the report was released. “It cannot yet reflect the full potential economic impacts still to come from the coronavirus outbreak or the recent sharp selloff in the stock market.” Temporary jobs, which could have been one of the first employment areas impacted by the coronavirus, declined by 3,300 in February.

Read more: https://www.washingtonpost.com/business/2020/03/06/march-jobs-report/



Full headline: The U.S. labor market showed strength in February, adding 273,000 jobs, despite concerns of the coronavirus outbreak

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Reply The U.S. labor market showed strength in February, adding 273,000 jobs (Original post)
BumRushDaShow Mar 2020 OP
BumRushDaShow Mar 2020 #1
mahatmakanejeeves Mar 2020 #5
BumRushDaShow Mar 2020 #10
yaesu Mar 2020 #2
progree Mar 2020 #3
BumRushDaShow Mar 2020 #4
bucolic_frolic Mar 2020 #6
Galileo126 Mar 2020 #9
Politicub Mar 2020 #21
2naSalit Mar 2020 #7
duforsure Mar 2020 #8
Lonestarblue Mar 2020 #11
mahatmakanejeeves Mar 2020 #14
machoneman Mar 2020 #13
mahatmakanejeeves Mar 2020 #12
mahatmakanejeeves Mar 2020 #15
maddogesq Mar 2020 #16
SKKY Mar 2020 #17
Cryptoad Mar 2020 #18
mahatmakanejeeves Mar 2020 #19
mahatmakanejeeves Mar 2020 #20
Sunlei Mar 2020 #22
mahatmakanejeeves Mar 2020 #23

Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 09:00 AM

1. Yes it's that Friday again and our DU economic commentators should be along today with a deep dive!



(DU is not letting me edit the OP. )

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Response to BumRushDaShow (Reply #1)

Fri Mar 6, 2020, 09:07 AM

5. Good morning. I've run into that too. NT

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Response to mahatmakanejeeves (Reply #5)

Fri Mar 6, 2020, 09:27 AM

10. I think something got corrupted in the OP

(some on DU might even argue it was the data itself that did it! )

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 09:00 AM

2. Oh, you betcha, and there's a pot of gold at the end of every rainbow. nt

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 09:02 AM

3. The Establishment and Household surveys were done the week that contains the 12th --

Last edited Fri Mar 6, 2020, 02:57 PM - Edit history (2)

so that would be Feb 10 - 14. Well before the coronavirus became a big concern in the U.S. The stock market's all time high was set on Feb 19.

As for myself, I'll skip my own "deep dive" today, since, well, who cares. I'm much more interested in the next jobs report, Friday April 3.

On Edit -

As a reminder the numbers are seasonally adjusted.

As for wages, people keep commenting that they just report job numbers, not wages and salaries.

They are always reported in the summary report (as well as the long version). And most news reports too that I've seen covering the job numbers. Though not in the most helpful manner. E.g. from #15 above from the summary:

This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry.

...

In February, average hourly earnings for all employees on private nonfarm payrolls increased by 9 cents to $28.52. Over the past 12 months, average hourly earnings have increased by 3.0 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 8 cents to $23.96 in February. (See tables B-3 and B-8.)


It would be nice if they also gave the past 12 months for production and nonsupervisory employees.

It would also be nice if here they reported the CPI for context -- it was 2.5% January 2020 over January 2019. (the February CPI number isn't due until March 11)

Even better yet to show the inflation-adjusted verson of the above in their summary report.

Here is something I've put together from the indicated data series.

These are all n years through January. The CPI for February is not due until March 11, so I have to wait for that from the BLS to update these numbers through February.

Real (meaning inflation-adjusted) average weekly earnings of production and non-supervisory workers:
http://data.bls.gov/timeseries/CES0500000031

. . Obama's last 3 years: +4.50%, Trump's 3 years: +3.23%, Last 12 months: +0.19%

The above on an annualized basis:

. . Obama's last 3 years: 1.48%/yr, Trump's 3 years: 1.06%/yr, Last 12 months: 0.19%/yr

What's odd is that pretty much ever since Trump has been president, the media has been talking about the tightening labor market and wages finally rising. Well, the figures show a wage slowdown compared to Obama's last 3 years.

Here's the hourly version for those who prefer that:

Real (meaning inflation-adjusted) average hourly earnings of production and non-supervisory workers:
http://data.bls.gov/timeseries/CES0500000032

. . Obama last 3y: +4.20%, Trump's 3y: +3.27%, Last 12 mo: +0.85%
. . The above on an annualized basis:
. . . . Obama's last 3 years: 1.38%/yr, Trump's 3 years: 1.08%/yr, Last 12 months: 0.85%/yr

The nominal dollar, aka current aka greenbacks version (raw, not adjusted for inflation, but seasonally adjusted)
. . weekly: http://data.bls.gov/timeseries/CES0500000030
. . hourly: http://data.bls.gov/timeseries/CES0500000008

Note to myself: TwentyAAH misca

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Response to progree (Reply #3)

Fri Mar 6, 2020, 09:04 AM

4. Was figuring that

Won't see an impact until next month after this month's data is gathered. Could also be some interesting revisions happening in the future too!

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 09:08 AM

6. I don't believe that report at all

the quality of jobs is poor, low level, and underpaid, basically exploitation. Companies are fishing, in case they don't get any bites. Seasonal adjustments are of concern when people go on vacation, summer at the shore, or have to mind the kids. The "jobs" are mostly vacancies in corporate applicant tracking systems just in case. It's like everything else, unless they show you the money, it's just hot air.

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Response to bucolic_frolic (Reply #6)

Fri Mar 6, 2020, 09:23 AM

9. I agree...

As I have always said, re: jobs reports...

"Yeah yeah...the numbers don't show WHAT KIND OF JOBS.... just "jobs". 273,000 low-paying, can't live, non-careers.

YAY!!

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Response to bucolic_frolic (Reply #6)

Fri Mar 6, 2020, 11:55 AM

21. Job listings are full of ads seeking people to do enough work for two people

With salaries that are lower than they should be. This is what I’m seeing in marketing and communications roles.

It’s remarkable seeing the volume of work employers want from exempt employees. Our economic system is out of control.

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 09:22 AM

7. Info was gathered prior to

the virus outbreak so they are not reflecting reality.

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 09:22 AM

8. If those numbers aren't trumped up,

And corrupted by trump.

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Response to duforsure (Reply #8)

Fri Mar 6, 2020, 09:50 AM

11. You just voiced my concern.

Nothing that comes from the Trump administration can truly be trusted. And given that these numbers come from the Department of Commerce headed by Mr. Crook himself, Wilbur Ross, I am always skeptical.

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Response to Lonestarblue (Reply #11)

Fri Mar 6, 2020, 09:56 AM

14. No, they don't. NT

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Response to duforsure (Reply #8)

Fri Mar 6, 2020, 09:53 AM

13. I sincerely believe the numbers are a BIG LIE! Look, with the Dow down in correction+ territory....

...and the rapid spreading of the Coronavirus, Trup's minions must lie like hell now to try and cover up his administration's fuck-ups.

Look, as he's lost Wall St. and can't stop the flood of bad economic news from around the world, the only way he can try to make up good news is to gin up these numbers. Watch as well he'll order new unemployments number too that are far from reality. Heck, he need to make only 2 calls to make his own 'fake news' happen.

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 09:51 AM

12. Links to earlier reports:

Good morning, all.

Wed Mar 4, 2020: Links to earlier reports:

Friday, February 7, 2020: Links to earlier reports:

Thursday, January 9, 2020: Links to earlier reports:

Updated from this post of Friday, December 6, 2019: Good morning. Links to earlier reports:

-- -- -- -- -- --

[center]Past Performance is Not a Guarantee of Future Results.[/center]

Nonetheless, what is important is not this month's results, but the trend. Let’s look at some earlier numbers:

ADP[sup]®[/sup] (Automatic Data Processing), for employment in February 2020:

U.S. adds 183,000 private-sector jobs in February, ADP says

Bureau of Labor Statistics, for employment in January 2020:

The economy added 225,000 jobs in January, showing continued strength

ADP[sup]®[/sup] (Automatic Data Processing), for employment in January 2020:

ADP says 291,000 private-sector jobs created in January, largest gain in 4 years

Bureau of Labor Statistics, for employment in December 2019:

Economy adds 145,000 jobs in December as unemployment rate remains at 3.5 percent

ADP[sup]®[/sup] (Automatic Data Processing), for employment in December 2019:

U.S. private sector adds the most jobs in eight months

Bureau of Labor Statistics, for employment in November 2019:

Labor market remained strong in November as U.S. economy added 266,000 jobs

ADP[sup]®[/sup] (Automatic Data Processing), for employment in November 2019:

U.S. private sector job growth slows down sharply in November: ADP

Bureau of Labor Statistics, for employment in October 2019:

U.S. economy added 128,000 jobs in October as GM strike displaced workers; jobless rate ticks up

Bureau of Labor Statistics, for employment in September 2019:

U.S. economy added just 136,000 jobs in September, in fresh sign economy is cooling

ADP[sup]®[/sup] (Automatic Data Processing), for employment in September 2019:

ADP National Employment Report: Private Sector Employment Increased by 135,000 Jobs in September

Bureau of Labor Statistics, for employment in August 2019:

U.S. economy adds just 130,000 jobs in August amid worries

ADP[sup]®[/sup] (Automatic Data Processing), for employment in August 2019:

Survey: Businesses added a solid 195,000 jobs in August

Bureau of Labor Statistics, for employment in July 2019:

U.S. Added 164,000 Jobs in July; Unemployment Rate at 3.7 Percent

ADP[sup]®[/sup] (Automatic Data Processing), for employment in July 2019:

ADP says 156,000 private-sector jobs added created in July

Bureau of Labor Statistics, for employment in June 2019:

Hiring rebounds as U.S. economy adds 224,000 jobs in June;unemployment rate inched up to 3.7 percent

ADP[sup]®[/sup] (Automatic Data Processing), for employment in June 2019:

U.S. private sector hiring picks up less than expected in June: ADP

Bureau of Labor Statistics, for employment in May 2019:

The U.S. economy added only 75,000 jobs in May amid bite from Trump's trade war

ADP[sup]®[/sup] (Automatic Data Processing), for employment in May 2019:

ADP private-sector job growth tumbles to a 9-year low in May

Bureau of Labor Statistics, for employment in April 2019:

UPDATE: U.S. unemployment fell to 3.6 percent, lowest since 1969

ADP[sup]®[/sup] (Automatic Data Processing), for employment in April 2019:

ADP National Employment Report: Private Sector Employment Increased by 275,000 Jobs in April

Bureau of Labor Statistics, for employment in March 2019:

UPDATE: U.S. added 196,000 jobs in March as economy shows signs of spring bounce

ADP[sup]®[/sup] (Automatic Data Processing), for employment in March 2019:

Private sector hiring falls to 18-month low, and manufacturing sheds jobs, ADP says

Bureau of Labor Statistics, for employment in February 2019:

U.S. adds meager 20,000 jobs in February to mark smallest increase in 17 months

ADP[sup]®[/sup] (Automatic Data Processing), for employment in February 2019:

ADP National Employment Report: Private Sector Employment Increased by 183,000 Jobs in February

Bureau of Labor Statistics, for employment in January 2019:

U.S. creates 304,000 jobs in January, unemployment rises to 4%

ADP[sup]®[/sup] (Automatic Data Processing), for employment in January 2019:

U.S. added 213,000 private-sector jobs in January, ADP says

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 10:02 AM

15. From the source, the BLS report:

Payroll employment rises by 273,000 in February; unemployment rate changes little at 3.5%

Economic News Release USDL-20-0379

Employment Situation Summary
Transmission of material in this news release is embargoed until 8:30 a.m. (EST) Friday, March 6, 2020

Technical information:
Household data: (202) 691-6378 * cpsinfo@bls.gov * www.bls.gov/cps
Establishment data: (202) 691-6555 * cesinfo@bls.gov * www.bls.gov/ces

Media contact: (202) 691-5902 * PressOffice@bls.gov


THE EMPLOYMENT SITUATION -- FEBRUARY 2020


Total nonfarm payroll employment rose by 273,000 in February, and the unemployment rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and social assistance, food services and drinking places, government, construction, professional and technical services, and financial activities.

This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note.

Household Survey Data

Both the unemployment rate, at 3.5 percent, and the number of unemployed persons, at 5.8 million, changed little in February. The unemployment rate has been either 3.5 percent or 3.6 percent for the past 6 months. (See table A-1.)

Among the major worker groups, the unemployment rate for Asians declined to 2.5 percent in February. The rates for adult men (3.3 percent), adult women (3.1 percent), teenagers (11.0 percent), Whites (3.1 percent), Blacks (5.8 percent), and Hispanics (4.4 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more), at 1.1 million, changed little in February and accounted for 19.2 percent of the unemployed. (See table A-12.)

The labor force participation rate remained at 63.4 percent in February. The employment-population ratio, at 61.1 percent, changed little over the month but was up by 0.4 percentage point over the year. (See table A-1.)

The number of persons employed part time for economic reasons, at 4.3 million, changed little in February. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)

In February, 1.4 million persons were marginally attached to the labor force, little changed from the previous month. These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks prior to the survey. Discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, numbered 405,000 in February, little different from the previous month. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment rose by 273,000 in February, after an increase of the same magnitude in January. In 2019, job growth averaged 178,000 per month. In February, notable job gains occurred in health care and social assistance, food services and drinking places, government, construction, professional and technical services, and financial activities. (See table B-1.)

Employment in health care and social assistance increased by 57,000 in February. Health care added 32,000 jobs, with gains in offices of physicians (+10,000), home health care services (+10,000), and hospitals (+8,000). Employment in social assistance increased by 25,000, with a majority of the gain in individual and family services (+18,000). Over the past 12 months, employment increased by 368,000 in health care and by 191,000 in social assistance.

Food services and drinking places added 53,000 jobs in February. Employment in the industry has increased by 252,000 over the past 7 months, following a lull in job growth earlier in 2019.

In February, government employment increased by 45,000, led by a gain in state government education (+16,000). Federal employment increased by 8,000, reflecting the hiring of 7,000 temporary workers for the 2020 Census.

Construction added 42,000 jobs in February, following a similar gain in January (+49,000). In 2019, job gains averaged 13,000 per month. In February, employment gains occurred in specialty trade contractors (+26,000) and residential building (+10,000).

In February, employment in professional and technical services increased by 32,000. Job growth occurred in architectural and engineering services (+10,000) and in scientific research and development services (+5,000). Employment continued to trend up in computer systems design and related services (+8,000). Over the past 12 months, professional and technical services has added 285,000 jobs.

Employment in financial activities increased by 26,000 in February, with gains in real estate (+8,000) and in credit intermediation and related activities (+6,000). Over the past 12 months, financial activities has added 160,000 jobs.

Employment in other major industries, including mining, manufacturing, wholesale trade, retail trade, transportation and warehousing, and information, changed little over the month.

In February, average hourly earnings for all employees on private nonfarm payrolls increased by 9 cents to $28.52. Over the past 12 months, average hourly earnings have increased by 3.0 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 8 cents to $23.96 in February. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls rose by 0.1 hour to 34.4 hours in February. In manufacturing, the workweek increased by 0.2 hour to 40.7 hours, and overtime edged up by 0.1 hour to 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls increased by 0.1 hour to 33.7 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for December was revised up by 37,000 from +147,000 to +184,000, and the change for January was revised up by 48,000 from +225,000 to +273,000. With these revisions, employment gains in December and January combined were 85,000 higher than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.) After revisions, job gains have averaged 243,000 per month over the last 3 months.

_____________
The Employment Situation for March is scheduled to be released on Friday, April 3, 2020, at 8:30 a.m. (EDT).

* * * * *

[center]Facilities for Sensory Impaired[/center]

Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 10:06 AM

16. Job losses are coming, and not just because of Caronavirus.

An example is Art Van Furniture, a fixture around these parts for decades. Job losses will be around 4000.

In this case, venture capitalists bought the chain and made some poor decisions. The tariffs didn’t help either.

https://www.google.com/amp/s/www.clickondetroit.com/news/local/2020/03/05/art-van-furniture-to-close-all-stores-how-did-we-get-here/%3foutputType=amp

This latest BLS report does not reflect what is about to happen.

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 10:22 AM

17. I have a strong feeling this will get revised down in a couple of months...

...but hey, what do I know?

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 10:41 AM

18. BLS has finally mastered the art,,,,,,,

Turd Polishing!

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 11:32 AM

19. Links to charts and graphs from the BLS Twitter account.

These will get explained in an article in The Wall Street Journal., but the explanation will be behind a paywall.

Payroll employment rises by 273,000 in February; unemployment rate changes little at 3.5% https://go.usa.gov/vrK #JobsReport #BLSdata



Understanding BLS Unemployment Statistics #JobsReport #BLSdata



More charts and analysis on the February nonfarm payroll employment numbers http://go.usa.gov/4UqY #JobsReport #BLSdata



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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 11:42 AM

20. BLS Commissioner's statement

The short version of the whole thing.

Economic News Release

Commissioner's Statement on the Employment Situation

Advance copies of this statement are made available to the press
under lock-up conditions with the explicit understanding that
the data are embargoed until 8:30 a.m. Eastern Standard Time.


Statement of

William W. Beach
Commissioner
Bureau of Labor Statistics

Friday, March 6, 2020


Nonfarm payroll employment rose by 273,000 in February, and
the unemployment rate was little changed at 3.5 percent. Notable
employment gains occurred in health care and social assistance,
food services and drinking places, government, construction,
professional and technical services, and financial activities.

Incorporating revisions for December and January, which
increased payroll employment by 85,000, monthly job gains have
averaged 243,000 over the past 3 months.

Employment rose by 57,000 in health care and social
assistance in February. Health care employment increased by
32,000, with gains in offices of physicians (+10,000), home
health care services (+10,000), and hospitals (+8,000).
Employment in social assistance increased by 25,000, mostly
within individual and family services (+18,000). Over the year,
employment has risen by 368,000 in health care and by 191,000 in
social assistance.

Employment in food services and drinking places increased
by 53,000 in February. The industry has added 252,000 jobs over
the past 7 months, after a lull in job growth earlier in 2019.

Government employment rose by 45,000 over the month,
including an increase of 16,000 in state government education.
Federal government employment increased by 8,000 in February, as
7,000 temporary workers were hired for the 2020 Census.

Construction employment increased by 42,000 in February,
following an increase of 49,000 in January. In 2019, the
industry added an average of 13,000 jobs per month. In February,
job gains occurred in specialty trade contractors (+26,000) and
residential building (+10,000).

Professional and technical services added 32,000 jobs in
February and 285,000 jobs over the past 12 months. Over the
month, job gains occurred in architectural and engineering
services (+10,000) and in scientific research and development
services (+5,000). Employment continued to trend up in computer
systems design and related services (+8,000).

Employment increased by 26,000 in financial activities over
the month. Job gains occurred in real estate (+8,000) and in
credit intermediation and related activities (+6,000).

Employment in other major industries--including mining,
manufacturing, wholesale trade, retail trade, transportation and
warehousing, and information--showed little change in February.

Average hourly earnings of all employees on private nonfarm
payrolls rose by 9 cents in February to $28.52, following a gain
of 6 cents in January. Over the past 12 months, average hourly
earnings have risen by 3.0 percent; the over-the-year percent
change has been 3.0 percent or above for 19 consecutive months.
From January 2019 to January 2020, the Consumer Price Index for
All Urban Consumers (CPI-U) increased by 2.5 percent (on a
seasonally adjusted basis).

The major labor market indicators from the survey of
households continued to show little or no change in February.
Both the unemployment rate, at 3.5 percent, and the number of
unemployed people, at 5.8 million, remained little changed over
the month. The unemployment rate has been either 3.5 percent or
3.6 percent for the past 6 months.

Among the unemployed, the number of people searching for
work for 27 weeks or more was about unchanged at 1.1 million in
February. These long-term unemployed accounted for 19.2 percent
of the unemployed.

The labor force participation rate remained at 63.4 percent
in February. The employment-population ratio was little changed
at 61.1 percent but was up by 0.4 percentage point over the
year.

In February, 4.3 million people were working part time for
economic reasons (also referred to as involuntary part-time
workers), little changed from the previous month.

Among those neither working nor looking for work in
February, 1.4 million were considered marginally attached to the
labor force, little changed over the month. (People who are
marginally attached to the labor force had not looked for work
in the 4 weeks prior to the survey but wanted a job, were
available for work, and had looked for a job within the last 12
months.) Discouraged workers, a subset of the marginally
attached who believed no jobs were available for them, numbered
405,000 in February, also little changed from a month earlier.

Summarizing the labor market developments in February,
nonfarm payroll employment rose by 273,000, and the unemployment
rate was little changed at 3.5 percent.



HTML version of the entire news release

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Response to BumRushDaShow (Original post)

Fri Mar 6, 2020, 12:06 PM

22. I think we're going to hold at about the 4percent range Pres. Obama left for us.

until the machines take over everything, but then we can have a monthly social security check for all (Thank you President Yang 2024) and we'll be fine & happy.

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Response to BumRushDaShow (Original post)

Sun Mar 29, 2020, 07:52 AM

23. Future bleak for long-term jobless

Cross-posted from another thread.

Sun Mar 29, 2020: Future bleak for long-term jobless

I'm clearing out old papers. That's the print title for this article:

Economic Policy

Five reasons why the long-term jobless don’t matter to the economy

By Ylan Q. Mui
Reporter
March 20, 2014 at 1:00 p.m. EDT

Princeton University professor Alan Krueger dives deep into the problem of long-term unemployment in a new paper to be presented Thursday at the Brookings Institution. He calls people who have been out of a job for six months or more an “unlucky subset of the unemployed” who exist on the margins of the economy -- with faint hope of returning to productivity. Here are five takeaways from his paper, co-authored with Judd Cramer and David Cho of Princeton.

{snip}

Ylan Mui
Ylan Q. Mui was a financial reporter at The Washington Post covering the Federal Reserve and the economy. She left The Post in January 2017. Follow https://twitter.com/ylanmui

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