Written By ESR News Blog Editor Thomas Ahearn
The United States economy added 313,000 jobs in February 2018 while the unemployment rate remained unchanged at 4.1 percent for the fifth consecutive month, according to the jobs report released by the U.S. Department of Labor’s (DOL) Bureau of Labor Statistics (BLS).
The jobs report for February 2017 revealed the number of unemployed persons also remained unchanged at 6.7 million while job gains occurred in construction, retail trade, professional and business services, manufacturing, financial activities, health care, and mining. The jobs report found:
- Construction employment increased by 61,000 jobs in February and has added 185,000 jobs over the past 4 months.
- Retail trade employment increased by 50,000 jobs over the month and has changed little over the past 4 months, which traditionally see the bulk of the holiday hiring and layoffs.
- Professional and business services employment increased by 50,000 jobs in February and has risen by 495,000 jobs over the year.
- Manufacturing employment added 31,000 jobs in February and has risen by 224,000 jobs over the past year.
- Financial activities employment added 28,000 jobs over the month and has added 143,000 jobs over the year.
- Health care employment increased by 19,000 jobs in February and has added 290,000 jobs over the past year.
- Mining employment rose by 9,000 jobs in February and has added 69,000 jobs since a recent low in October 2016.
Employment in other major industries, including wholesale trade, transportation and warehousing, information, leisure and hospitality, and government, showed little change over the month, according to the jobs report.
The change in employment for December 2017 was revised from 160,000 jobs added to 175,000 jobs added while January 2018 was revised from 200,000 jobs added to 239,000 jobs added. With the revisions, employment gains in these two months were 54,000 jobs more than previously reported.
The jobs report is usually released on the first Friday of every month. The jobs report for March 2018 is scheduled to be released on April 6, 2018. Until then, the most recent jobs report is available at www.bls.gov/news.release/empsit.nr0.htm (PDF).
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