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Saturday, March 2, 2013

February 2013 Jobs News Highlights

This report is being updated HERE!

February Jobs Reports & Summaries:
  • February Summary: Report shows INCREASES in total jobs and private-sector jobs; government jobs continued to decline.  Unemployment is down to 7.7%, its lowest mark since December 2008.  The decrease in the unemployment rate was spurred mostly by 170,000 people becoming employed and by about 350,000 young people age 16-24 leaving the labor market and entering or re-entering school. 
  • The civilian labor force has grown by 699,000 people over the past year.  The number of employed people has grown by 1,473,000 people over the past year.  In other words, statistically, all of the people who entered the labor force found jobs and about 770,000 of the unemployed found jobs. 
  • The number of unemployed people decreased primarily because the number of people on temporary layoff declined by about 70,000, the number of permanent jobs losers declined by about 80,000 and the number of people who were re-entering the employment market but were unemployed declined by about 170,000. 
  • Unemployment among white people dropped 0.2% to 6.8% in February; unemployment among African-Americans stayed even at  13.8% in February (after increasing 0.8% in December).  Unemployment among Hispanics dropped in February by 0.1% to 9.6%.  Unemployment among Asians dropped 0.4% to 6.1% in February. 
  • Economy adds 236,000 jobs; more than was projected.  Private sector jobs increased by 246,000; government jobs decreased this month by 10,000.   (However, January job increases were revised downwards by 38,000, due mostly to a revision in the number of government jobs.  Government jobs were revised to reflect a decrease of 21,000 vs. the 9,000 originally reported.)  
  • The increase in jobs from December to January was revised downwards by 38,000.  The increase in private sector numbers was revised downwards by 17,000.  The increase in jobs from November to December was revised upwards by 23,000.  We have 574,000 more jobs than we had in November 2012, or an increase of 191,300 jobs in each of those three months.  (We need about 70,000 new jobs a month to keep up with the population growth.)  
  • Manufacturing jobs increased by 14,000; private service-producing jobs increase by 179,000. 
  • Unemployment increased to 3.8% for people 25 and over with Bachelor's degrees or higher.  The unemployment rate for young people under 25 with Bachelor's degrees or higher and NOT currently in school increased to  9.2%, but this is a volatile number, not adjusted for seasonal variation.  
  • The unemployment rates for people without a high school degree and for high school graduates with no college decreased, from 12.0% to 11.2% and from 8.1% to 7.9% respectively.  These are the lowest unemployment rates for these groups of people since December 2008.
  • Employment increased equally in February for both men and women,  with each group gaining about 85,000 more people employed in February.  An increase of 80,000 jobs was reported among men between 35 and 44 years of age between January and February.  December and January.  A large increase of 180,000 was reported among women between 45 and 54 years of age between January and February.  Employment in all other age groups was fairly even. 
  • 77,000 FEWER full-time workers this month; 102,000 MORE part-time workers.  We have 1,600,000 MORE full-time workers than we had a year ago and 40,000 FEWER part-time workers than we had a year ago. 
  • We have about 43,000 FEWER unincorporated self-employed workers than we had last month and we have 182,000 MORE unincorporated self-employed workers than we did a year ago.  (The number of self-employed workers tends to be volatile.) 
  • 1,473,000 MORE people employed in total than a year ago. 
  • 774,000 FEWER people unemployed than a year ago.
  • 699,000 MORE people in the civilian labor force (either employed or actively looking for work) than a year ago.
  • About 1,966,000 MORE jobs than we had a year ago (including all revisions.)
  • 5.7 million more jobs in total than at the "trough" of the recession (including all revisions).
  • 6.4 million more private sector jobs than at the "trough" of the recession (including all revisions).


  • How Many Jobs Lost/Gained in 2013 to date?
  • How Many Jobs Lost/Gained in February 2013?

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