February Jobs Report: 50,000 Tech Jobs Added in February

by Emily Shore on March 9, 2018

The unemployment rate remained steady in February at 4.1 percent. A total of 313,000 jobs were created during the month, the most since July 2016 and the 89th straight month of gains, a record according to the New York Times.

Fifth Consecutive Month of Unchanged Unemployment Rate

February’s 0 percent change marked the fourth month of stability in the U.S. unemployment rate. The rate has remained 0.6 percent over the past year. The average number of jobs created averaged 242,333 per month over the past three months.

The Rise in Wages Continue

Over the past year, average hourly earnings have risen 68 cents (2.6 percent). The 4 cent gain in February brought the average hourly earnings for all employees on private nonfarm payrolls to $26.75.

Tech Jobs Increase

The professional and business services sector added 50,000 jobs in February, with 18,900 of those jobs attributed to professional and technical services.

The specific areas seeing the most growth in the professional and technical services sector include:

    • Architectural and engineering services (+5,600 in February 2018)
    • Other professional and technical services (+3,900 in February 2018)
    • Advertising and related services (+3,300 jobs in February 2018)

The unemployment rate for professional and technical services changed slightly in February to 2.9 percent.

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