U.S. employment studies show that for the third straight month in February, that the recovery of jobs contiues. Employers added a lorger-than-expected 227,000 jobs last month. The economy created 61,000 more jobs in December and January than expected. Although the job market is getting better, the pace is too slow to obsorb the 23.5 million americans that are still unemployed. Economists predict the jobless rate could fall below 8% by this November. The labor force participation rate-the percentage of working-age Americans either with a job or looking for one- rose to 63.9 percent in January.
The seperate survey of households that is used to measure the jobless rate showed even brisker highering in Februrary. Private companies again accounted for almost all of the job gains in Februrary adding 233,000 positions for people.Manufactoring in January recorded the largest job gain hiring 31,000 new workers. Average hourly earing increased 3 cents per hour. Average hourly wages have also increased 1.9 percent in 12 months through Februrary. The overall work week held steady at 34.5 hours - holding the highest levels since August 2008. Although hiring has quickened, the econimy faces long- term unemployment. In Februrary, about 43 % of the 12.8 million unemployed americans have been out of work for more than 6 months.
U.S. employment studies show that for the third straight month in February, that the recovery of jobs contiues. Employers added a lorger-than-expected 227,000 jobs last month. The economy created 61,000 more jobs in December and January than expected. Although the job market is getting better, the pace is too slow to obsorb the 23.5 million americans that are still unemployed. Economists predict the jobless rate could fall below 8% by this November. The labor force participation rate-the percentage of working-age Americans either with a job or looking for one- rose to 63.9 percent in January.
The seperate survey of households that is used to measure the jobless rate showed even brisker highering in Februrary. Private companies again accounted for almost all of the job gains in Februrary adding 233,000 positions for people.Manufactoring in January recorded the largest job gain hiring 31,000 new workers. Average hourly earing increased 3 cents per hour. Average hourly wages have also increased 1.9 percent in 12 months through Februrary. The overall work week held steady at 34.5 hours - holding the highest levels since August 2008. Although hiring has quickened, the econimy faces long- term unemployment. In Februrary, about 43 % of the 12.8 million unemployed americans have been out of work for more than 6 months.