Economy Added 216,000 More Jobs in February

Employment in the U.S. nonfarm private business sector increased by 216,000 from January to February on a seasonally adjusted basis. The estimated advance in employment from December to January was revised slightly upwards to 173,000 from the initially reported 170,000. Employment in the private, service-providing sector rose 170,000 in February, and employment in the private, goods-producing sector increased 46,000 in February. Manufacturing employment increased 21,000.

Employment on large payrolls — those with 500 or more workers — increased 20,000, and employment on medium payrolls — those with 50 to 499 workers—rose 88,000 in February. Employment on small payrolls — those with up to 49 workers — rose 108,000 that same period. Of the 108,000 jobs created by small businesses, 18,000 jobs were created by the goods producing sector and 90,000 jobs were created by the service-producing sector.

Employment in the construction industry grew by 16,000 in February, marking the fifth consecutive monthly gain in this sector. Employment in the financial services sector increased 14,000 in January, marking the seventh consecutive and largest monthly gain over the last two years.