Economy Gains 313,000 Jobs in February, Unemployment Unchanged at 4.1%

The U.S. economy gained 313,000 jobs in February, and unemployment was unchanged at 4.1%, according to figures released this morning by the U.S. Bureau of Labor Statistics.

This continues the recovery of the labor market at a tempered rate, which means the Federal Reserve’s Federal Open Market Committee should continue to let the economy grow and not raise interest rates.

In response to the February jobs numbers, AFL-CIO Chief Economist William Spriggs tweeted:

Last month's biggest job gains were in construction (61,000), retail trade employment (50,000), professional and business services (50,000), manufacturing (31,000), financial activities (28,000), health care (19,000) and mining (9,000). Employment in other major industries, including wholesale trade, transportation and warehousing, information, leisure and hospitality, and government, showed little change over the month.

Among the major worker groups, the unemployment rate for blacks decreased (6.9%). The jobless rates for teenagers (14.4%), Hispanics (4.9%), adult women (3.8%), adult men (3.7%), whites (3.7%) and Asians (2.9%) showed little change.

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed in February and accounted for 20.7% of the unemployed.