February hiring picks up nationally

The Bureau of Labor Statistics said Friday private sector businesses added 246,000 jobs in February.  Total non-farm payroll employment rose by 236,000 jobs last month.

The White House, in an official release, noted the economy has now added private sector jobs every month for three straight years, and a total of 6.35 million jobs have been added over that period.

February’s numbers look solid considering all the shenanigans in Washington, but the overall gains remain tepid for a growing economy. In Connecticut, statistics have shown a job market that’s stalled, but state officials hope that revisions will show 2012 wasn’t as bad as thought. The revisions will be made using data from more businesses that are required to report employment levels for the third quarter.

Connecticut, reports its January employment levels on March 15 and its February totals on March 28.

Nationally, unemployment rate fell from 7.9 percent in January to 7.7 percent in February, the lowest since December 2008.  The labor force participation rate edged down 0.1 percentage point to 63.5 percent in February.

Categories: Economy, Labor
Rob Varnon