Both the household survey and the employer survey continue to show marked improvements in the health of the job market. For the eighth successive month, the two BLS surveys show noticeable gains in employment. The employer survey shows total payrolls increased 227,000 in February. This is the third month in a row in which payrolls rose more than 200,000.
The household survey shows an even more impressive performance. The number of respondents in that survey who say they hold a job increased 428,000 in February. Making an adjustment for the new population weights used by the BLS in January, it appears that employment gains in the household survey have averaged 388,000 a month since October. The nation needs between 90,000 and 100,000 additional jobs every month to keep up with the growth in the working-age population. Job gains since last summer have comfortably exceeded that threshold. As a result, the unemployment rate has fallen 0.8 percentage points since last August.
Posted at 4:48pm and tagged with: Employment, Economy, Business, United States, Job Creation, Labor, Unemployment, Economic Growth, United States, US,.
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