Another Wild Jobs Report: Payroll Employment Rose A Disappointing 20,000

Employment Report Statement

Total nonfarm payroll employment changed little in February (+20,000), and the unemployment rate declined to 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment in professional and business services, health care, and wholesale trade continued to trend up, while construction employment decreased.

Unemployment Rate – Seasonally Adjusted 

The above Unemployment Rate Chart is from the BLS. Click on the link for an interactive chart.

Nonfarm Employment Change from Previous Month

Hours and Wages

Average weekly hours of all private employees fell 0.1 hour to 34.4 hours. Average weekly hours of all private service-providing employees was flat at 33.3 hours. Average weekly hours of manufacturers fell 0.1 hours to 40.7 hours.

Average Hourly Earnings of All Nonfarm Workers rose $0.11 to $27.66. That a 0.51% gain. Average hourly earnings of private service-providing employees rose $0.11 to $27.43, a gain of 0.40%. Average hourly earnings of manufacturers rose $0.12 to $27.38, a gain of 0.44%.

Average hourly earnings of Production and Supervisory Workersrose $0.08 to $23.18. That's a 0.3.5% gain. Average hourly earnings of private service-providing employees rose $0.10 to $22.92, a gain of 0.44%. Average hourly earnings of manufacturers rose $0.06 to $21.90, a gain of 0.27%

Year-Over-Year Wage Growth

  • All Private Nonfarm from $26.75 to $27.66, a gain of 3.4%
  • All production and supervisory from $22.40 to $23.18, a gain of 3.5%.

For a discussion of income distribution, please see What’s “Really” Behind Gross Inequalities In Income Distribution?

Birth Death Model

Starting in January 2014, I dropped the Birth/Death Model charts from this report. For those who follow the numbers, I retain this caution: Do not subtract the reported Birth-Death number from the reported headline number. That approach is statistically invalid. Should anything interesting arise in the Birth/Death numbers, I will comment further.

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