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Industry Report

Healthcare and Government Sector emerge as big contributors to job growth in February 2024

Home » Industry Report » Healthcare and Government Sector emerge as big contributors to job growth in February 2024

February 2024 Jobs Report

Total non-farm payroll employment rose by 275,000 in February, and the unemployment rate increased to 3.9 percent. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing. The unemployment rate rose by 0.2 percentage point to 3.9 percent in February, and the number of unemployed people increased by 334,000 to 6.5 million.

The number of long-term unemployed (those jobless for 27 weeks or more), at 1.2 million, was little changed in February. The long-term unemployed accounted for 18.7 percent of all unemployed people. In February, the labor force participation rate was 62.5 percent for the third consecutive month, and the employment-population ratio was little changed at 60.1 percent. These measures showed little or no change over the year.

Total Jobs Added*

(* Non-Farm Jobs Only)

Unemployment Rate

( Increased by 0.2% since January )

USA Industry-Specific Updates
– February 2024

(+) Means Jobs Added MoM (-) Means Jobs Decreased MoM

+19,000

Retail

General merchandise +17,000
Personal care retailers +6,000
Automotive parts +5000

+24,000

Social Assistance

Individual and family services +19,000

+67,000

Healthcare

Ambulatory health care +28,000
Hospitals +28,000
Nursing and residential +11,000

+20,000

Transportation

Air Transportation +4,000
Couriers and messengers +17,000

+52,000

Government

Local government +26,000
Federal government +9,000

Other Sectors

Construction +23,000
Heavy and civil engineering +13,000

In February, average hourly earnings for all employees on private nonfarm payrolls edged up by 5 cents to $34.57, following an increase of 18 cents in January. Average hourly earnings were up by 0.1 percent in February and 4.3 percent over the year. In February, average hourly earnings of private-sector production and nonsupervisory employees edged up by 7 cents, or 0.2 percent, to $29.71.

Source: The US Bureau of Labor Statistics

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