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U.S. Reports Strong Job Growth

By Staff Writer March 07, 2022 576

Total nonfarm payroll employment rose by 678,000 in February, and the unemployment rate edged down to 3.8 percent, the U.S. Bureau of Labor Statistics reported. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, health care, and construction. 

The number of unemployed persons edged down to 6.3 million. Among the unemployed, the number of persons on temporary layoff, at 888,000 in February, was little changed over the month. The number of permanent job losers, at 1.6 million in February, also changed little. Both measures are higher than their February 2020 levels of 780,000 and 1.3 million, respectively.

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.7 million. This measure is 581,000 higher than in February 2020. The long-term unemployed accounted for 26.7 percent of the total unemployed in February 2022. The labor force participation rate, at 62.3 percent in February, changed little over the month. The employment-population ratio edged up to 59.9 percent. Both measures remain below their February 2020 levels. The number of persons employed part time for economic reasons increased by 418,000 to 4.1 million in February but remains below its February 2020 level of 4.4 million. 

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Last modified on Thursday, 10 March 2022 13:55

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