U.S. Bureau of Labor Statistics reported today that total nonfarm payroll employment rose by 678,000.
- The unemployment rate edged down to 3.8 percent
- The employment number exceeded forecasts
- The unemployment rates for adult men (3.5 percent) and Hispanics (4.4 percent) declined in February
- The labor force participation rate is 62.3%
- The number of persons employed part time for economic reasons increased by 418,000
- 13.0% of employed persons worked from home, down from 15.4% in the prior month
- Retail trade employment is 104,000 above its level in February 2020
- average hourly earnings of private-sector production and nonsupervisory employees rose by 8 cents to $26.94
December and January numbers were revised up by 92,000. The change in total nonfarm payroll employment for December was revised up by 78,000, from +510,000 to +588,000, and the change for January was revised up by 14,000, from +467,000 to +481,000.