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Employment Situation sees Little Change in February03-18-10 | News

Employment Situation sees Little Change in February



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Unemployment rate (left), seasonally adjusted, February 2008 ?EUR??,,????'?????<

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Nonfarm payroll employment was little changed (-36,000) in February, and the unemployment rate held at 9.7 percent. Employment fell in construction and information, while temporary help services added jobs.

Severe winter weather in parts of the country may have affected payroll employment and hours; however, it is not possible to quantify precisely the net impact of the winter storms on these measures. Landscape maintenance businesses in the Northeast were surely affected by the severe winter and subsequent floodings.

In February, the number of unemployed persons, at 14.9 million, was essentially unchanged, and the unemployment rate remained at 9.7 percent.

The number of long-term unemployed (those jobless for 27 weeks and over) was 6.1 million in February and has been about that level since December. About 4 in 10 unemployed persons have been unemployed for 27 weeks or more.

The number of persons working part time for economic reasons (sometimes referred to as involuntary part-time workers) increased from 8.3 to 8.8 million in February, partially offsetting a large decrease in the prior month. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. ?EUR??,,????'?????<

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