Payrolls, Wages Show Impressive Gains in February

By Toni Vranjes

March 10, 2017

Employers added 235,000 new jobs last month, while wages increased by 6 cents, according to the latest employment report.

The job gains were spread among several areas, including construction, professional and business services, educational services, manufacturing, health care, and mining. The average job growth over the past three months has been 209,000 per month, the Labor Department reported.

Unemployment fell slightly, from 4.8 percent to 4.7 percent. Meanwhile, the labor-force participation rate increased to 63 percent, from 62.9 percent the previous month.

“The February labor report was a very good one,” wrote IHS Markit Chief Economist Nariman Behravesh in an analysis. “The payroll survey showed two months of back-to-back strong employment gains. The rise in the labor force and the participation rate were also encouraging.”

Tags: , , ,

Leave a Reply