{"id":1945,"date":"2023-03-10T11:03:20","date_gmt":"2023-03-10T16:03:20","guid":{"rendered":"https:\/\/embarrdowns.com\/us-economy-adds-311000-jobs-in-february-labor-force-participation-rate-up\/"},"modified":"2023-03-10T11:03:20","modified_gmt":"2023-03-10T16:03:20","slug":"us-economy-adds-311000-jobs-in-february-labor-force-participation-rate-up","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/us-economy-adds-311000-jobs-in-february-labor-force-participation-rate-up\/","title":{"rendered":"US Economy Adds 311,000 Jobs in February, Labor Force Participation Rate Up"},"content":{"rendered":"

The US economy added 311,000 jobs in February, according to the Labor Department’s closely watched monthly employment snapshot released Friday, outpacing expectations of 205,000.[0]<\/a><\/sup> The unemployment rate unexpectedly increased to 3.6%, surpassing the prediction of 3.4%, while the labor force participation rate also rose to its highest point since March 2020 at 62.5%.[1]<\/a><\/sup> The Bureau of Labor Statistics’ survey of households revealed a 177,000 decrease in their computation of the unemployment rate.[2]<\/a><\/sup> The unemployment rate, including those who are discouraged and those who are working part-time for economic reasons, went up 0.2 percentage points to 6.8%.[2]<\/a><\/sup><\/p>\n

Major industries experienced an increase in payroll of 105,000, with leisure and hospitality in the lead.[3]<\/a><\/sup> In February, both information and transportation\/warehousing industries experienced a decrease.[4]<\/a><\/sup> Hourly wages increased by 0.2 percent in February, resulting in a 4.6-percent annual increase. This was lower than what was expected.[5]<\/a><\/sup><\/p>\n

Analysts at Commerzbank are bullish on the US labor market and expect another solid jobs report.[6]<\/a><\/sup> Economists on Wall Street anticipate the jobs report for February will demonstrate that employers added 220,000 positions.[7]<\/a><\/sup> January’s numbers had been distorted upward by seasonal adjustments and other statistical quirks, but the report showed that the economy added 504,000 jobs in January, a total that was revised down only slightly from the initially reported 517,000.[8]<\/a><\/sup><\/p>\n

In January, the labor force participation rate increased to 62.5% from 62.4%, with more people employed or looking for work.[9]<\/a><\/sup><\/p>\n

It is expected that the jobs report will enable the Federal Reserve to continue with its plan to raise interest rates at its meeting on March 21-22.[2]<\/a><\/sup> Traders estimated that there was only a 48.4% chance, or approximately a 50-50 chance, that the central bank will make a 0.5 percentage point increase, according to a CME Group estimate.[2]<\/a><\/sup> By the end of 2022, with inflation data appearing to have cooled off, markets predicted that the Fed would moderate its rate hikes.[10]<\/a><\/sup> In February, the Federal Open Market Committee voted to raise interest rates by 0.25%, and stated that further increases would be gradual.[10]<\/a><\/sup><\/p>\n

0. <\/span>“Friday’s Jobs Report Is In. What It Means for the Fed.” Barron’s, 10 Mar. 2023, https:\/\/www.barrons.com\/articles\/february-jobs-report-today-39762ac<\/a><\/a><\/p>\n

1. <\/span>“Gold price gains as U.S. jobs number beats expectations in February, but unemployment rate climbs” Kitco NEWS, 10 Mar. 2023, https:\/\/www.kitco.com\/news\/2023-03-10\/Gold-price-gains-as-U-S-jobs-report-beats-expectations-in-February-but-January-number-revised-down.html<\/a><\/a><\/p>\n

2. <\/span>“Payrolls rose 311,000 in February, more than expected, showing solid growth” CNBC, 10 Mar. 2023, https:\/\/www.cnbc.com\/2023\/03\/10\/jobs-report-february-2023.html<\/a><\/a><\/p>\n

3. <\/span>“US hiring boom continued in February with 311,000 added jobs” The Guardian, 10 Mar. 2023, https:\/\/www.theguardian.com\/business\/2023\/mar\/10\/us-jobs-report-february-2023<\/a><\/a><\/p>\n

4. <\/span>“The US added 311,000 jobs in February, unemployment rate at 3.6%” Business Insider, 10 Mar. 2023, https:\/\/www.businessinsider.com\/job-growth-unemployment-rate-recession-outlook-february-jobs-report-2023-3<\/a><\/a><\/p>\n

5. <\/span>“Jobs report: US economy adds 311,000 jobs in February as labor market stays strong” Yahoo Money, 10 Mar. 2023, https:\/\/money.yahoo.com\/february-jobs-report-march-10-2023-124602371.html<\/a><\/a><\/p>\n

6. <\/span>“Nonfarm Payrolls rise by 311,000 in February vs. 205,000 expected” FXStreet, 10 Mar. 2023, https:\/\/www.fxstreet.com\/news\/us-nonfarm-payrolls-forecast-analyzing-february-nfp-release-202303100700<\/a><\/a><\/p>\n

7. <\/span>“Why Friday’s Jobs Report Won’t Save The S&P 500 From Fed Hawks” Investor’s Business Daily, 9 Mar. 2023, https:\/\/www.investors.com\/news\/economy\/why-a-soft-jobs-report-wont-save-the-sp-500-from-fed-hawks\/<\/a><\/a><\/p>\n

8. <\/span>“Robust job growth exceeded expectations again in February” MSNBC, 10 Mar. 2023, https:\/\/www.msnbc.com\/rachel-maddow-show\/maddowblog\/robust-job-growth-exceeded-expectations-february-rcna74324<\/a><\/a><\/p>\n

9. <\/span>“US Jobs Report: Gold finger stretches higher on intraday charts as NFP data comes out mixed” FXStreet, 10 Mar. 2023, https:\/\/www.fxstreet.com\/news\/us-jobs-report-preview-gold-to-continue-februarys-decline-202303100720<\/a><\/a><\/p>\n

10. <\/span>“US economy added 311,000 jobs in February, exceeding expectations” NBC News, 10 Mar. 2023, https:\/\/www.nbcnews.com\/business\/business-news\/payrolls-rose-311000-february-expected-jobs-growth-stays-hot-rcna74329<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US economy added 311,000 jobs in February, according to the Labor Department’s closely watched monthly employment snapshot released Friday, outpacing expectations of 205,000.[0]<\/a><\/sup> The unemployment rate unexpectedly increased to 3.6%, surpassing the prediction of 3.4%, while the labor force participation rate also rose to its highest point since March 2020 at 62.5%.[1]<\/a><\/sup> The Bureau of Labor Statistics’ survey of households revealed a 177,000 decrease in their computation of the unemployment rate.[2]<\/a><\/sup> The unemployment rate, including those who are discouraged and those who are working part-time for economic reasons, went up 0.2 percentage points to 6.8%.[2]<\/a><\/sup><\/p>\n

Major industries experienced an increase in payroll of 105,000, with leisure and hospitality in the lead.[3]<\/a><\/sup> In February, both information and transportation\/warehousing industries experienced a decrease.[4]<\/a><\/sup> Hourly wages increased by 0.2 percent in February, resulting in a 4.6-percent annual increase. This was lower than what was expected.[5]<\/a><\/sup><\/p>\n

Analysts at Commerzbank are bullish on the US labor market and expect another solid jobs report.[6]<\/a><\/sup> Economists on Wall Street anticipate the jobs report for February will demonstrate that employers added 220,000 positions.[7]<\/a><\/sup> January’s numbers had been distorted upward by seasonal adjustments and other statistical quirks, but the report showed that the economy added 504,000 jobs in January, a total that was revised down only slightly from the initially reported 517,000.[8]<\/a><\/sup><\/p>\n

In January, the labor force participation rate increased to 62.5% from 62.4%, with more people employed or looking for work.[9]<\/a><\/sup><\/p>\n

It is expected that the jobs report will enable the Federal Reserve to continue with its plan to raise interest rates at its meeting on March 21-22.[2]<\/a><\/sup> Traders estimated that there was only a 48.4% chance, or approximately a 50-50 chance, that the central bank will make a 0.5 percentage point increase, according to a CME Group estimate.[2]<\/a><\/sup> By the end of 2022, with inflation data appearing to have cooled off, markets predicted that the Fed would moderate its rate hikes.[10]<\/a><\/sup> In February, the Federal Open Market Committee voted to raise interest rates by 0.25%, and stated that further increases would be gradual.[10]<\/a><\/sup><\/p>\n

0. <\/span>“Friday’s Jobs Report Is In. What It Means for the Fed.” Barron’s, 10 Mar. 2023, https:\/\/www.barrons.com\/articles\/february-jobs-report-today-39762ac<\/a><\/a><\/p>\n

1. <\/span>“Gold price gains as U.S. jobs number beats expectations in February, but unemployment rate climbs” Kitco NEWS, 10 Mar. 2023, https:\/\/www.kitco.com\/news\/2023-03-10\/Gold-price-gains-as-U-S-jobs-report-beats-expectations-in-February-but-January-number-revised-down.html<\/a><\/a><\/p>\n

2. <\/span>“Payrolls rose 311,000 in February, more than expected, showing solid growth” CNBC, 10 Mar. 2023, https:\/\/www.cnbc.com\/2023\/03\/10\/jobs-report-february-2023.html<\/a><\/a><\/p>\n

3. <\/span>“US hiring boom continued in February with 311,000 added jobs” The Guardian, 10 Mar. 2023, https:\/\/www.theguardian.com\/business\/2023\/mar\/10\/us-jobs-report-february-2023<\/a><\/a><\/p>\n

4. <\/span>“The US added 311,000 jobs in February, unemployment rate at 3.6%” Business Insider, 10 Mar. 2023, https:\/\/www.businessinsider.com\/job-growth-unemployment-rate-recession-outlook-february-jobs-report-2023-3<\/a><\/a><\/p>\n

5. <\/span>“Jobs report: US economy adds 311,000 jobs in February as labor market stays strong” Yahoo Money, 10 Mar. 2023, https:\/\/money.yahoo.com\/february-jobs-report-march-10-2023-124602371.html<\/a><\/a><\/p>\n

6. <\/span>“Nonfarm Payrolls rise by 311,000 in February vs. 205,000 expected” FXStreet, 10 Mar. 2023, https:\/\/www.fxstreet.com\/news\/us-nonfarm-payrolls-forecast-analyzing-february-nfp-release-202303100700<\/a><\/a><\/p>\n

7. <\/span>“Why Friday’s Jobs Report Won’t Save The S&P 500 From Fed Hawks” Investor’s Business Daily, 9 Mar. 2023, https:\/\/www.investors.com\/news\/economy\/why-a-soft-jobs-report-wont-save-the-sp-500-from-fed-hawks\/<\/a><\/a><\/p>\n

8. <\/span>“Robust job growth exceeded expectations again in February” MSNBC, 10 Mar. 2023, https:\/\/www.msnbc.com\/rachel-maddow-show\/maddowblog\/robust-job-growth-exceeded-expectations-february-rcna74324<\/a><\/a><\/p>\n

9. <\/span>“US Jobs Report: Gold finger stretches higher on intraday charts as NFP data comes out mixed” FXStreet, 10 Mar. 2023, https:\/\/www.fxstreet.com\/news\/us-jobs-report-preview-gold-to-continue-februarys-decline-202303100720<\/a><\/a><\/p>\n

10. <\/span>“US economy added 311,000 jobs in February, exceeding expectations” NBC News, 10 Mar. 2023, https:\/\/www.nbcnews.com\/business\/business-news\/payrolls-rose-311000-february-expected-jobs-growth-stays-hot-rcna74329<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":1944,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1945"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=1945"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1945\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/1944"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=1945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=1945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=1945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}