The Bureau of Labor Statistics released its monthly Employment Situation report for Feb. 2014 on Mar. 7. The unemployment rate climbed to 6.7 percent, while the number of unemployed reached its highest level in three months. The number of Americans unemployed for over 27 week also increased by 5.6 percent over Jan. 2014.
The unemployment rate for Feb. 2014 was 6.7 percent, an increase from January's 6.6 percent. More reflective of the unemployment situation was the increase in the number of unemployed, from 10.24 million in January to 10.46 million. Much of this increase is from people not in the labor force entering and looking for work.
The labor force increased by 264,000 people in Feb. 2014. The number of people not in the labor force continued to fall in the month. The number of Americans with jobs, however was nearly static, with just 42,000 more employed in Feb. The net effect of all factors was more unemployed workers.
The average length of unemployment for February was 37.1 weeks. That is an increase from January but is identical to the Nov. and Dec. 2013 numbers. The median duration of unemployment for Feb. also increased, with half of all unemployed having been out of work for over 16.4 week. With standard unemployment providing 26 weeks of benefits, in February 37 percent of the unemployed had been so for 27 weeks and over.