February US Jobs Report: 151,000 Rise in Payrolls, Slightly Below Forecasts

The US economy added 151,000 jobs in February, according to the latest report from the Bureau of Labor Statistics.

The unemployment rate ticked up to 4.1% in February from 4.0% in January.

Both key readings in the February report were on the softer side. Nonfarm payroll employment had been forecast to rise 160,000 vs. an originally reported 143,000 increase in January, according to FactSet. That January gain was revised down to 125,000. Meanwhile, the unemployment rate had been forecast to remain steady at 4%.

February Jobs Report Key Stats

• Total nonfarm payrolls rose by 151,000 in February.
• The unemployment rate ticked up to 4.1% in February from 4.0% in January.
• Average hourly wages rose by 0.3% to $35.93 after rising 0.4% in January.

In February, average hourly wages rose by 10 cents, or 0.3%, to $35.93. Over the past 12 months, average hourly earnings have risen by 4.0%.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.1 in February. For manufacturing employees, the average workweek was steady at 40.1 hours in February, and overtime rose to 2.9 hours. For production and nonsupervisory employees, the average workweek was unchanged at 33.6 hours.