Atlanta, GA (PRWEB) March 31, 2015
The Economic Situation report released by the Bureau of Labor Statistics on Friday, Mach 6, revealed a growth of 295,000 jobs in February, an increase of 56,000 jobs over January’s monthly employment growth.
February’s job growth marks a 23.4 percent increase from January’s revised employment number of 239,000 new jobs, and an 11.5 percent decrease from December’s 329,000 jobs. The unemployment rate and the number of unemployed persons were both edged down to 5.5 percent and 8.7 million for the month of February, respectively. The unemployment rate has shown no net growth since October 2014.
In February, job gains occurred in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing. Employment in mining declined over the month.
The food services and drinking places subsector added 59,000 jobs last month, a 68.5 percent increase over the monthly average of 35,000 of the past 12 months.
Employment in professional and business services increased by 51,000 jobs last month and has increased by 660,000 jobs over the past year. In February, employment continued to grow in management and technical consulting services (+7,000), computer systems design and related services (+5,000), and architectural and engineering services (+5,000).
Construction added 29,000 jobs last month, while health care rose by 24,000 and transportation and warehousing added 19,000 jobs. Over the past 12 months, each industry added 321,000, 473,700 and 192,200 jobs respectively.
Employment in mining decreased by 9,000 in February, with most of the decline in support activities for mining (-7,000).
Employment in other major industries, including wholesale trade, information, financial activities, and government, showed little change over the month.
After revisions, total nonfarm payroll employment for the month of December remained at 329,000 jobs while employment numbers were revised for the month of January, from 257,000 to 239,000. With these revisions, employment gains in December and January were 18,000 lower than previously reported. Over the past 3 months, job gains have averaged 288,000 per month.
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