Sunday, March 27, 2016

February Employment Review

The US Economy added 242,000 non farm payroll jobs in February continuing strong job performance in a period usually affected by seasonal layoff and weather.

The national unemployment rate stayed at 4.9%. The labor force participation rate increased to 62.9% as the labor force increased by more than half a million people (555,000). Of the 555,000 people who joined the labor market, 530K reported working. 

The Black unemployment rate was 8.8% while the Black participation rate moved sides ways. Younger employees enter the labor market while old works exited.

The black unemployment rate has also fallen below it's longer term average.

The Black U-6 which we have been calling the "Real Black Unemployment Rate" was calculated at 13.6%.

Manufacturing jobs shrank again in February losing 16,000 positions. In a positive sign temporary help positions also declined.

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