Unemployment rate in February 3.6%… Slight increase from the lowest level in 54 years
(New York = Yonhap Infomax) Correspondent Haram Lim = New employment in the non-agricultural sector in the US in February showed a greater-than-expected increase.
The U.S. Department of Labor announced on the 10th (local time) that nonfarm payrolls increased by 311,000 in February this year.
February’s new hires exceeded the 225,000 increase expected by analysts polled by the Wall Street Journal.
Employment was revised down to 504,000 from an increase of 517,000 in January. The figure for December last year was also revised down from 260,000 to 239,000.
The U.S. unemployment rate in February rose slightly to 3.6% from 3.4% the previous month, the lowest level in 54 years.
The February unemployment rate also exceeded the WSJ’s forecast of 3.4%.
The unemployment rate remained at 3.4% in January. The unemployment rate of 3.4% is the lowest level since 1969.
The labor force participation rate in February was 62.5%, up slightly from 62.4% the previous month.
The average hourly wage in February was $33.09, up $0.08 (0.24%) from the previous month. Average hourly wages increased by 4.62% year-on-year.
Hourly wage growth fell short of both the WSJ’s expectations of a 0.4% month-on-month increase and a 4.8% year-on-year increase.
Average weekly working hours were 34.5 hours, down 0.1 hour from the previous month.
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