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EconomyEmploymentFebruary 2023 Employment Report

February 2023 Employment Report

U.S. Bureau of Labor Statistics reported today that total nonfarm payroll employment rose by 311,000.

  • The unemployment rate edged down to 3.6 percent relative to one year ago.
  • The unemployment rate for adult men (3.3 percent) is lower than one year ago.
  • The unemployment rates for Hispanics (5.3 percent) increased in February 2023.
  • Health care added 44,000 jobs in February. The average has been an increase of 54,000.
  • Construction employment grew by 24,000 in February.
  • Transportation and warehousing lost 22,000 jobs in February.
  • The labor force participation rate is 62.5%, slightly higher than one year ago.
  • The number of persons employed part time is 4.1 million.
  • Average hourly earnings of private-nonfarm employees rose by 8 cents to $33.09.
  • The average workweek is down by 0.1 hour to 34.5 hours.

December and January numbers were revised down by 34,000. The change in total nonfarm payroll employment for December was revised down by 21,000, from +260,000 to +239,000, and the change for January was revised down by 13,000, from +517,000 to +504,000.

LPH
Layne Heinyhttp://www.layneheiny.com
LPH is a high school physics teacher interested in the Apple iPad and iPhone, Microsoft Surface, Tablet PCs, and other mobile devices. He resides with one large dog who begs for pizza, hamburgers, French fries, and anything else on the dinner table.

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