February employment rises 4%
Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rateincreased to 3.9%, the U.S. Bureau of Labor Statistics reported. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing.
The unemployment rate rose by 0.2 percentage point to 3.9 percent in February, and the
number of unemployed people increased by 334,000 to 6.5 million. A year earlier, the
jobless rate was 3.6 percent, and the number of unemployed people was 6.0 million.
Employment in transportation and warehousing rose by 20,000 in February. Couriers and
messengers added 17,000 jobs, after losing 70,000 jobs over the prior 3 months. In
February, job growth also occurred in air transportation (+4,000), while warehousing
and storage lost 7,000 jobs. Employment in the transportation and warehousing industry
is down by 144,000 since reaching a peak in July 2022.
In February, employment continued to trend up in construction (+23,000), in line with
the average monthly gain of 18,000 over the prior 12 months. Over the month, heavy
and civil engineering construction added 13,000 jobs.
Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; information; financial activities; professional and business services; and other services.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
