Written By ESR News Blog Editor Thomas Ahearn
The U.S. economy added 242,000 jobs in February while the unemployment rate and the number of unemployed persons both remained unchanged at 4.9 percent and 7.8 million respectively, according to the February 2016 Employment Situation Report released by the Bureau of Labor Statistics (BLS).
The BLS report revealed that the unemployment rate and the number of unemployed persons were down by 0.6 percentage point and 831,000 over the year. Employment grew in health care and social assistance, retail trade, food services and drinking places, and private educational services.
- Health care and social assistance added 57,000 jobs in February. Over the past 12 months, hospitals have added 181,000 jobs.
- Retail trade added 55,000 jobs in February, and has added 339,000 jobs over the past 12 months.
- Food services and drinking places added 40,000 jobs in February. Over the year, employment in the industry has grown by 359,000 jobs.
- Private educational services rose by 28,000 jobs in February, after edging down by 20,000 jobs in the prior month.
- Construction added 19,000 jobs in February, and was up by 253,000 jobs over the past 12 months.
On the negative side, mining lost 19,000 jobs in February. Employment in other major industries including manufacturing, wholesale trade, transportation and warehousing, financial activities, professional and business services, and government showed little change over the month.
The change in employment for December was revised from 262,000 jobs added to 271,000 jobs added and the change for January was revised from 151,000 jobs added to 172,000 jobs added. With these revisions, employment gains in December and January were 30,000 more than previously reported.
The ‘THE EMPLOYMENT SITUATION’ is released by the BLS on the first Friday of every month. The Employment Situation for March 2016 is scheduled to be released on April 1, 2016. Until that day, the current jobs report will be available at www.bls.gov/news.release/pdf/empsit.pdf.
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