February 2008 Employment Situation — 2008-03-07

Nonfarm payroll employment edged down in February (-63,000), and the unemployment rate was essentially unchanged at 4.8 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment fell in manufacturing, construction, and retail trade. Job growth continued in health care and in food services. Average hourly earnings rose by 5 cents, or 0.3 percent, over the month. The number of unemployed persons (7.4 million) and the unemployment rate (4.8 percent) were essentially unchanged in February. Over the month, the unemployment rates for adult men (4.3 percent), adult women (4.2 percent), teenagers (16.6 percent), whites (4.3 percent), and Hispanics (6.2 percent) showed little or no change. The jobless rate for blacks fell to 8.3 percent, in line with the average rate for 2007. The unemployment rate for Asians was 3.0 percent, not seasonally adjusted.