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February 2014 employment report reveals gain of 175000 jobs

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The United States economy added 175,000 jobs in February 2014 while the unemployment rate rose to 6.7 percent and the number of unemployed persons reached 10.5 million, according to ‘THE EMPLOYMENT SITUATION — FEBRUARY 2014’ released by the U.S. Department of Labor’s Bureau of Labor Statistics.

The February 2014 employment report also found the number of unemployed persons and the unemployment rate were down by 1.6 million and 1.0 percentage point over the year.

In addition, the employment report for December 2013 was revised from 75,000 jobs added up to 84,000 jobs added and the employment report for January 2014 was revised from 113,000 jobs added up to 129,000 jobs added.

With these revisions, employment gains in December 2013 and January 2014 were 25,000 jobs higher than previously reported.

Job gains occurred in professional and business services, food services and drinking places, wholesale trade, construction, and health care. Job growth averaged 189,000 jobs per month over the prior 12 months.

Among specific industries:

  • Professional and business services employment increased by 79,000 jobs in February 2014, with accounting and bookkeeping services adding 16,000 jobs. Professional and business services added an average of 56,000 jobs per month over the prior 12 months.
  • Food services and drinking places employment increased by 21,000 jobs in February 2014. Over the prior 12 months, this industry added an average of 27,000 jobs per month.
  • Wholesale trade employment added 15,000 jobs in February 2014, with nearly all of the increase occurring in durable goods. Over the prior 12 months, the employment gain in wholesale trade averaged 9,000 per month.
  • Construction employment gained 15,000 jobs in February 2014 and has added 152,000 jobs over the past year.
  • Health care employment added 10,000 jobs in February 2014. Over the prior 12 months, this industry added an average of 27,000 jobs per month.

On the negative side, retail trade employment lost 4,000 jobs and information employment lost 16,000 jobs in February 2014. Employment in other major industries, including mining and logging, manufacturing, transportation and warehousing, financial activities, and government, changed little over the month.

The employment report for March 2014 is scheduled to be released on Friday, April 4, 2014.

The Employment Situation report is released on the first Friday of each month at http://www.bls.gov/news.release/pdf/empsit.pdf.

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