February’s job report saw a gain of 20,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. There was an increase in professional and business services, health care and wholesale trade. Construction employment decreased.
Over the past three months, job gains have averaged 186,000 per month.
February’s unemployment rate dropped to 3.8%, down from 4.0% in January. The civilian labor force participation remained at 63.2%, the same as January.
The report found that in February, average hourly earnings for employees on private, nonfarm payrolls rose by 11 cents to $27.66. Over the year, average hourly earnings have risen by 3.4%.