The U.S. economy gained 273,000 jobs in February, and the unemployment rate was essentially unchanged at 3.5%, according to figures released Friday morning by the U.S. Bureau of Labor Statistics. Wages showed some improvement, rising 3.0% over last year.
In response to the February job numbers, AFL-CIO Chief Economist William Spriggs tweeted:
Higher wage industries (moving up the chart) were part of job gains (moving right on the chart) but lower wage leisure & hospitality and education & health showed the biggest gains. Retail continued its weakness as the biggest job loser @AFLCIO pic.twitter.com/QB3AzfQuRF
— William E. Spriggs (@WSpriggs) March 6, 2020
While the unemployment rate hovers near low rates, the share of Americans holding jobs shows a long road to return to 2008 level or record 2000 levels @AFLCIO pic.twitter.com/H3W2KnDMri
— William E. Spriggs (@WSpriggs) March 6, 2020
Though showing a little improvement, the share of the unemployed still looking 26 weeks or more remains stubbornly above what was "normal" in 2000 @AFLCIO pic.twitter.com/xe8UZRwnxr
— William E. Spriggs (@WSpriggs) March 6, 2020
Employment in motor vehicle & parts manufacturing rebounded in February, up 6,800 but not back to December's level and still 15,700 below last February @UAW @AFLCIO
— William E. Spriggs (@WSpriggs) March 6, 2020
The labor force participation rates for Blacks and whites continue to show convergence. @APRI_National @CBTU72 @AFLCIO pic.twitter.com/youB1s6g3e
— William E. Spriggs (@WSpriggs) March 6, 2020
Last month's biggest job gains were in health care (57,000), leisure and hospitality (53,000), government (45,000), construction (42,000), professional and business services (32,000) and financial activities (26,000). Employment in other major industries—including mining, manufacturing, information, transportation and warehousing, wholesale trade, and retail trade—showed little change over the month.
Among the major worker groups, the unemployment rate for Asians declined a half of a percentage point in February to 2.5%. Unemployment rates for teenagers (11.0%), blacks (5.8%), Hispanics (4.4%), adult men (3.3%), whites (3.1%) and adult women (3.1%) showed little or no change.
The number of long-term unemployed (those jobless for 27 weeks or more) showed little change in February and accounted for 19.2% of the unemployed.