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Economy

Economic Data (USA)

Friday, March 04, 2016

Employment Situation Report for February 2016

The Employment Situation Report for February 2016 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Predicted: +190,000
Actual: +242,000


U-3 Unemployment Rate (Official)
Predicted: 4.9%
Actual: 4.9%

U-6 Unemployment Rate*
Actual: 9.7%

Average Hourly Earnings (month-to-month change)
Predicted: +0.2%
Actual: -0.12%

Civilian Labor Force Participation Rate: 62.9%
Previous Month: 62.7%

Average Workweek
Predicted: 34.6 hrs
Actual: 34.4 hrs

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

From today's report:

"...In February, average hourly earnings for all employees on private nonfarm payrolls declined by 3 cents to $25.35, following an increase of 12 cents in January. Average hourly earnings have risen by 2.2 percent over the year. In February, average hourly earnings of private-sector production and nonsupervisory employees were unchanged at $21.32...


...The change in total nonfarm payroll employment for December was revised from +262,000 to +271,000, and the change for January was revised from +151,000 to +172,000. With these revisions, employment gains in December and January combined were 30,000 more than previously reported. Over the past 3 months, job gains have averaged 228,000 per month..."[Establishment Survey Data]

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* =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

Click here to view the full Department of Labor report.

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