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U.S. economy adds 275,000 jobs in February
Research - MARCH 11, 2024

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U.S. economy adds 275,000 jobs in February

by Lewis Dayton

The total nonfarm payroll employment in the United States increased by 275,000 in December, surpassing most estimates, while the unemployment rate rose from 3.7 percent in January to 3.9 percent in February.

The major employment-adding sectors were health care (67,000), government employment (52,000), food services and drinking places (42,000), social assistance (24,000), transportation and warehousing (20,000) and construction (23,000).

Employment fell in certain subsectors such as building material and garden equipment and supplies dealers (-6,000) and electronics and appliance retailers (-2,000) but showed little change in other major sectors such as mining, quarrying, and oil and gas extraction;  manufacturing; wholesale trade; information; financial activities; and professional and business services.

Average hourly earnings in February for all employees on private nonfarm payrolls rose by 0.1 percent, or 5 cents, to $34.57, after an increase of 0.6 percent

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