Economy Added 295,000 Jobs in February
Posted on March 6, 2015
The economy added 295,000 jobs in February according to the U.S. Bureau of Labor Statistic. The unemployment rate fell to 5.5% percent. The number of unemployed persons also edged down to 8.7 million. However, the long-term unemployed (jobless for 27+ weeks) remained unchanged at 2.7 million. The chart above shows the unemployment rate steadily falling over the past two years.Some of the categories that added jobs included food services, which added 59,000 jobs. Professional and business services was also strong with an increase in 51,000 jobs. Other categories adding jobs include construction (+29,000 jobs), health care (+24,000 jobs), transportation (+19,000 jobs) and manufacturing (+8,000 jobs).
Categories that lost jobs included mining which lost $9,000 jobs in February.
The U.S. Department of Labor says there have now been 60 consecutive months of private sector job growth. Take a look: