313,000 Jobs Added to U.S. Economy in February

March 30, 2018 | By More

Leading Actuary Employment and Career Site Actuary.com Comments on General Employment Trends From the U.S. Bureau of Labor Statistics’ Economic Situation Report

The US economy added 313,000 jobs in February, according to preliminary numbers released by the U.S. Bureau of Labor Statistics’ Economic Situation Report released on Friday, March 9, 2018.

“Total nonfarm payroll employment grew rapidly in February, increasing by 30 percent over the previous month,” said Jay Rollins, owner of Actuary.com, a leading career website specializing in actuary job postings. “By comparison, the U.S. economy only added 175,000 jobs in December, 239,000 jobs in January, and 200,000 jobs in February 2017.”

Unemployment remained at 4.1 percent for the fifth consecutive month, and the number of unemployed persons was unchanged at 6.7 million.

Employment for the month increased in construction, retail trade, professional and business services, manufacturing, financial activities, and mining. “Construction grew the fastest of all sectors last month, adding 61,000 jobs in February, up slightly from the 40,000 jobs gained in January. Retail trade, and business and professional services followed closely behind, both adding 50,000 jobs,” said Rollins. Manufacturing added 31,000 jobs while financial activities and mining added 28,000 and 8,000, respectively.

Employment gains in December and January were revised to add 15,000 and 39,000 jobs respectively, adding 54,000 jobs more than previously reported. After revision, job gains have averaged 242,000 over the past 3 months.

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