BLS: U.S. “EMPLOYMENT SITUATION — FEBRUARY 2014”

Highlights:

Total nonfarm payroll employment increased by 175,000 in February, and the unemployment rate was little changed at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services and in wholesale trade but declined in information.

The number of long-term unemployed (those jobless for 27 weeks or more) increased by 203,000 in February to 3.8 million; these individuals accounted for 37.0 percent of the unemployed. …

Both the civilian labor force participation rate (63.0 percent) and the employment-population ratio (58.8 percent) were unchanged in February. …

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 7.2 million in February. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work. …

In February, 2.3 million persons were marginally attached to the labor force, a decline of 285,000 over the year. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 755,000 discouraged workers in February, down by 130,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.5 million persons marginally attached to the labor force in February had not searched for work for reasons such as school attendance or family responsibilities. ….

The average workweek for all employees on private nonfarm payrolls edged down by 0.1 hour to 34.2 hours in February. The manufacturing workweek was unchanged at 40.7 hours, and factory overtime edged down by 0.1 hour to 3.3 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls declined by 0.2 hour to 33.3 hours. For production workers, the manufacturing workweek has declined by 0.6 hour over the past 3 months. …

In February, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents to $24.31. Over the year, average hourly earnings have risen by 52 cents, or 2.2 percent. In February, average hourly earnings of private-sector production and nonsupervisory employees increased by 9 cents to $20.50. …

The change in total nonfarm payroll employment for December was revised from +75,000 to +84,000, and the change for January was revised from +113,000 to +129,000. With these revisions, employment gains in December and January were 25,000 higher than previously reported.

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The Employment Situation for March is scheduled to be released on Friday, April 4, 2014, at 8:30 a.m. (EDT).

Employment Situation Summary

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