Economy Adds 295,000 Jobs In February, Jobless Rate Falls To 5.5%
International Business Times
Published Mar 06, 2015 08:52AM ET
Updated Mar 06, 2015 09:31AM ET
Economy Adds 295,000 Jobs In February, Jobless Rate Falls To 5.5%
By Dion Rabouin -
The U.S. added 295,00 jobs to the economy in February, outpacing analysts’ expectations of 240,000. That number brought the national unemployment rate to 5.5 percent from its 5.7 percent rate in January, the U.S. Bureau of Labor Statistics reported Friday. BLS also noted that January job growth was revised down to 239,000 jobs added from the previously reported 257,000.
February’s unemployment rate of 5.5 percent, as well as the number of unemployed persons -- 8.7 million -- edged down for the month. So far for 2015, the unemployment rate and the number of unemployed persons are down by 1.2 percentage points and 1.7 million people, respectively, the report found.
February’s numbers marked the 12th straight month the economy has added more than 200,000 jobs, the longest such stretch since 1994.
The numbers also beat forecasts for the jobless rate, which was predicted to fall one-tenth of a percentage point to 5.6 percent, according to analysts interviewed by Reuters. Those numbers pushed higher despite cold and snow that blanketed much of the country in February. But the adverse conditions set in after the government surveyed employers, economists said.
The number of long-term unemployed, or individuals who have been without a job for 27 weeks or more, was little changed at 2.7 million in February. These individuals accounted for 31.1 percent of those unemployed, BLS reported, adding that over the past four quarters, the number of long-term unemployed has decreased by 1.1 million.
The civilian labor force participation rate was little changed at 62.8 percent in February and has remained within a narrow range of 62.7 to 62.9 percent since April 2014. The employment-population ratio was held at 59.3 percent in February but is up by half a percentage point over the year.
Get The News You Want
Written By: International Business Times
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.