U.S. economy added 242,000 jobs in February

Unemployment rate holds steady

Last updated on July 2nd, 2019 at 09:08 am

The U.S. economy added 242,000 jobs in nonfarm employment in February, according to the latest report from the Bureau of Labor Statistics in the U.S. Labor Department.

The nation’s unemployment rate held steady at 4.9 percent.BizTracker-Job-candidates-shutterstock_171112193

The bureau also revised upward job growth numbers for December, revised from a gain of 262,000 upward to a gain of 271,000, and for January, revised from 151,000 upward to a gain of 172,000.

Employment gains in February occurred in health care and social assistance (which added 57,000 jobs), retail trade (which added 55,000 jobs), food services and drinking places (which added 40,000 jobs), private educational services (which added 28,000 jobs) and construction (which added 19,000 jobs).

Job losses continued in the mining industry, which lost 19,000 jobs.

Employment in other major industries, including manufacturing, wholesale trade, transportation and warehousing, financial activities, professional and business services, and government, showed little change over the month.

The labor force participation rate improved in February to 62.9 percent, up from 62.7 percent in January, 62.6 percent in December and 62.8 percent a year ago.

In February, average hourly earnings for all employees on private nonfarm payrolls declined by 3 cents to $25.35, following an increase of 12 cents in January. Average hourly earnings have risen by 2.2 percent over the year.

Read more economic data reports at the BizTracker page.

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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