More jobs were added to payrolls in the United States in February than projected, and far more than the low gains recorded in December and January.
On the downside, the report from the U.S. Bureau of Labor Statistics (BLS) also showed that the February gains – 175,000 jobs – were lower than the average gain of 189,000 jobs per month for the last 12 months.
The unemployment also rose slightly, from 6.6% to 6.7%.
The consensus among economists before the report was that about 149,000 jobs would be added in February, according to The New York Times.
The 175,000 positions were far above the 129,000 jobs added in January and the 84,000 jobs added in December.
The Times reported that the larger number is “likely to remove some of the anxiety that has been hanging over the economy because of the weak labor market data in the previous two months. “ That anxiety has been caused in part by a mixed holiday shopping season for retailers at the end of 2013 and the government’s downward revision of economic growth.
A senior economist at Barclay’s, Michael Gapen, told The Times that the February report “signals that the U.S. has returned to moderate job growth and that better economic data lie ahead once the weather effects subside.”
According to the jobs report from the BLS, some of the largest employment gains were in professional and business services (79,000). Accounting and bookkeeping services added 16,000, while 12,000 jobs were added in the area of durable goods.
More than 21,000 were hired in the food services and drinking places sector in February. An average of 27,000 jobs per month have been added to the economy in the food services and drinking places sector over the last year.
The construction industry also added 15,000 jobs, and has added 152,000 over the past year, according to the BLS.
The health care industry, which had been adding large amounts of jobs, has slowed over the past three months. In February, 10,000 jobs were added. Employment at hospitals was actually down by 10,000 jobs over the past three months.
