February Labor Report Recap
According to the recent jobs report from the Bureau of Labor Statistics, the labor market is still growing, with 311,000 nonfarm payroll jobs added in February 2023, a decrease of 206,000 jobs compared to last month. The unemployment rate also increased to 3.6 percent from 3.4 percent in January.
The industries that saw the most significant job gains this month were leisure and hospitality, retail trade, government, and healthcare.
Healthcare saw an increase of 44,000 jobs added in February and an average of 54,000 jobs added over the past six months.
Employment trends are still positive in 2023, with nonfarm payrolls still outpacing December 2022.
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Source: February 2023 Monthly Jobs Report, Bureau of Labor Statistics