Economy Gains 678,000 Jobs in February; Unemployment Falls to 3.8%

The U.S. economy gained 678,000 jobs in February, and the unemployment rate dropped to 3.8%, according to figures released Friday morning by the U.S. Bureau of Labor Statistics. Continuing strong job creation numbers are a clear sign that the worker-friendly policies implemented by President Biden are having a positive impact on working people.

In response to the February job numbers, AFL-CIO Chief Economist William Spriggs tweeted:

 

 

 

 

 

 

 

And while the economy is recovering fast, Economic Policy Institute’s senior economist Elise Gould and President Heidi Shierholz explain in a CNN op-ed that we need to ensure it works for everyone.

Last month’s biggest job gains were in leisure and hospitality (+179,000), professional and business services (+95,000), health care (+64,000), construction (+60,000), transportation and warehousing (+48,000), retail trade (+37,000), manufacturing (+36,000), financial activities (+35,000), social assistance (+31,000), other services (+25,000), wholesale trade (+18,000) and mining (+9,000). Employment showed little or no change over the month in information and government.

Among the major worker groups, the unemployment rates for Hispanic Americans (4.4%) and adult men (3.5%) declined in February. The jobless rates for teenagers (10.3%), Black Americans (6.6%), adult women (3.6%), White Americans (3.3%) and Asian Americans (3.1%) showed little or no change over the month.

The number of long-term unemployed workers (those jobless for 27 weeks or more) was essentially unchanged in February and accounted for 26.7% of the total unemployed.

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