U.S. Unemployment Rate Down to 7.7% in February


U.S. unemployment rate edged down to 7.7 percent in February, the U.S. Bureau of Labor Statistics reported on March 8th. Total nonfarm payroll employment increased by 236,000 in February as employment increased in professional and business services, construction, and health care.

The unemployment rate edged down to 7.7 percent in February but has shown little movement, on net, since September 2012. The number of unemployed persons, at 12.0 million, also edged lower in February.

Among the major worker groups, the unemployment rate for whites (6.8 percent) declined in February while the rates for adult men (7.1 percent), adult women (7.0 percent), teenagers (25.1 percent), blacks (13.8 percent), and Hispanics (9.6 percent) showed little or no change. The jobless rate for Asians was 6.1 percent (not seasonally adjusted), little changed from a year earlier. 
 
In February, the number of long-term unemployed (those jobless for 27 weeks or more) was about unchanged at 4.8 million. These individuals accounted for 40.2 percent of the unemployed. 
 
The employment-population ratio held at 58.6 percent in February. The civilian labor force participation rate, at 63.5 percent, changed little.
 
Total nonfarm payroll employment increased by 236,000 in February, with job gains in professional and business services, construction, and health care. In the prior 3 months, employment had risen by an average of 195,000 per month.
 
The change in total nonfarm payroll employment for December was revised from +196,000 to +219,000, and the change for January was revised from +157,000 to +119,000.

U.S. Bureau of Labor Statistics, contact@tradingeconomics.com
3/8/2013 1:34:59 PM