Unemployment rate unchanged, U.S. adds 242k jobs

March 4, 2016 07:50 AM

Total nonfarm payroll employment increased by 242,000 in February, and the unemployment rate was unchanged at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment gains occurred in health care and social assistance, retail trade, food services and drinking places, and private educational services. Job losses continued in mining. Household Survey Data In February, the unemployment rate held at 4.9 percent, and the number of unemployed persons, at 7.8 million, was unchanged. Over the year, the unemployment rate and the number of unemployed persons were down by 0.6 percentage point and 831,000, respectively.

Among the major worker groups, the unemployment rates for adult men (4.5%), adult women (4.5%), teenagers (15.6%), Whites (4.3%), Blacks (8.8%), Asians (3.8%), and Hispanics (5.4%) showed little or no change in February. The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 2.2 million in February and has shown little movement since June. In February, these individuals accounted for 27.7% of the unemployed.

The employment-population ratio edged up to 59.8% over the month, and the labor force participation rate edged up to 62.9%. Both measures have increased by 0.5 percentage point since September.

The number of persons employed part time for economic reasons (also referred to as involuntary part-time workers) was unchanged in February at 6.0 million and has shown little movement since November. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.

In February, 1.8 million persons were marginally attached to the labor force, down by 356,000 from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. 

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