Daily News: March 12, 2012

February Job Growth Continues; Unemployment Rate Unchanged


The U.S. unemployment rate remained unchanged at 8.3% in February despite the addition of 227,000 jobs, led by those in the professional and business services sector and the healthcare industry, according to the U.S. Bureau of Labor Statistics.

The report noted that the number of unemployed persons, at 12.8 million, was essentially unchanged in February. Both the labor force and employment rose in February.

Manufacturing employment rose by 31,000 in February. All of the increase occurred in durable goods manufacturing, with job gains in fabricated metal products (+11,000), transportation equipment (+8,000), machinery (+5,000) and furniture and related products (+3,000). Durable goods manufacturing has added 444,000 jobs since a recent trough in January 2010.

Construction employment changed little in February, after two consecutive months of job gains. Over the month, employment fell by 14,000 in nonresidential specialty trade contractors.

To read the full report, click here.