Economists’ predictions were shattered after the U.S. Bureau of Labor Statistics announced the addition of 295,000 jobs in their February jobs report. That’s an additional 56,000 jobs added since January. The BLS revised January’s number of 257,000 jobs added to 239,000. The average monthly job gain is now calculated at 266,000 jobs.
The unemployment rate is another big talking point for industry insiders as it now sits a 5.5%, the lowest it’s been since 2008. Even better news, there are 1.7 million less unemployed people than there were a year ago.
February’s Fast Facts
Taking a Closer Look: IT Industry Remains Top Performer
Employment in the Professional and Business Services sector increased by 51,000 in February. Even more promising, new estimates show that 660,00 jobs have been added in this industry since last year at this time. The Professional and Technical Services sector was a major contributor with 31,800 jobs added in February. Of those new jobs, management and technical consulting services tops the list with 7,000 new jobs added and computer systems design contributed 5,000 new jobs.