February’s job report saw a gain of 273,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. There was an increase in health care and social assistance, food services and drinking places, government, construction, professional and technical services, and financial activities.
Over the past three months, job gains have averaged 243,000 per month.
February’s unemployment rate dropped to 3.5%, slightly down from 3.6% in January. The civilian labor force participation was 63.4%, the same as January.
The report found that in February, average hourly earnings for employees on private, nonfarm payrolls rose by 9 cents to $28.52. Over the year, average hourly earnings have risen by 3.0%.