Nonfarm Payrolls rose by 175,000 vs. a Bloomberg consensus expectation of 150,000.
The employment change for December 2013 was revised up by 9,000 (from +75,000 to +84,000), and the employment change for January 2014 was revised up by 16,000 (from +113,000 to +129,000). The overall effect was a modest two-month upward revision of +25,000.
Beneath the surface, things look worse again. The household survey shows a gain of employment of only 42,000 while unemployment rose by 223,000.
February BLS Jobs Statistics at a Glance
- Nonfarm Payroll: +175,000 - Establishment Survey
- Employment: +42,000 - Household Survey
- Unemployment: +223,000 - Household Survey
- Involuntary Part-Time Work: -71,000 - Household Survey
- Voluntary Part-Time Work: -138,000 - Household Survey
- Baseline Unemployment Rate: +0.1 to 6.7% - Household Survey
- U-6 unemployment: -0.1 to 12.6% - Household Survey
- Civilian Non-institutional Population: +170,000
- Civilian Labor Force: +264,000 - Household Survey
- Not in Labor Force: -94,000 - Household Survey
- Participation Rate: +0.0 at 63.0 - Household Survey
Additional Notes About the Unemployment Rate
- The unemployment rate varies in accordance with the Household Survey, not the reported headline jobs number, and not in accordance with the weekly claims data.
- In the past year the population rose by 2,257,000.
- In the last year the labor force fell by 213,000.
- In the last year, those "not" in the labor force rose by 2,253,000
- Over the course of the last year, the number of people employed rose by 2,044,000 (an average of 170,333 a month)