Global| Mar 10 2017U.S. Payrolls Increase 235,000; Earnings Rise 0.2%
by:Tom Moeller
|in:Economy in Brief
Summary
Nonfarm payrolls increased 235,000 (1.7% y/y) during February. The gain followed a 238,000 January rise and a 155,000 December increase. These figures together were revised up by 9,000. Expectations had been for a 196,000 increase in [...]
Nonfarm payrolls increased 235,000 (1.7% y/y) during February. The gain followed a 238,000 January rise and a 155,000 December increase. These figures together were revised up by 9,000. Expectations had been for a 196,000 increase in the Action Economics Forecast Survey. Average hourly earnings increased a steady and expected 0.2% (2.8% y/y). The unemployment rate ticked down to 4.7% from 4.8%, also as expected. The overall unemployment rate, including marginally attached workers and those working part-time for economic reasons, fell to 9.2%. The 4.5 percentage point differential between these two jobless rates has fallen from 7.1 percentage points during all of 2010.
The labor market data are contained in Haver's USECON database. Detailed figures are in the EMPL and LABOR databases. The expectations figure is in the AS1REPNA database.
| Employment: (SA, M/M Change, 000s) | Feb | Jan | Dec | Feb Y/Y | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|
| Payroll Employment | 235 | 238 | 155 | 1.7% | 1.7% | 2.1% | 1.9% |
| Previous | -- | 227 | 157 | -- | -- | -- | -- |
| Manufacturing | 28 | 11 | 18 | 0.1 | 0.1 | 1.2 | 1.4 |
| Construction | 58 | 40 | 12 | 3.5 | 3.9 | 5.0 | 5.0 |
| Private Service-Producing | 132 | 167 | 118 | 1.9 | 2.1 | 2.4 | 2.1 |
| Government | 8 | 17 | -8 | 0.9 | 0.9 | 0.7 | 0.1 |
| Average Weekly Hours - Private Sector | 34.4 | 34.4 | 34.4 | 34.5 | 34.4 | 34.5 | 34.5 |
| Private Sector Average Hourly Earnings (%) | 0.2 | 0.2 | 0.3 | 2.8 | 2.6 | 2.3 | 2.1 |
| Unemployment Rate (%) | 4.7 | 4.8 | 4.7 | 4.9 | 4.8 | 5.3 | 6.2 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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