US February Non-Farm Payrolls
5th March, 2021 3:07 pm February Non-farm payrolls recorded a 379k gain, comfortably exceeding the +182k median forecast. This leaves the 3m average at +80k. Private sector payrolls were significantly better than the headline print at +465k, manufacturing added +21k jobs while government dropped -86k. The surprise might have been even higher were it not for the weather events in Texas, which was behind the 939k people not at work due to the weather (Feb average is 385k). The unemployment rate ticked down to 6.2% and participation was unchanged at 61.4% despite this. The workweek did drop though, to 34.6, although this is from a rather elevated 34.9.
Subscribe now to see the full article
Independent Strategy research services are available by annual subscription.
For details of subscription rates and soft-dollar payments please contact:
John Armstrong or Guido Manca
Tel: +44 (0) 20 7730 4965
Fax: +44 (0) 20 7730 7963
Email: main@instrategy.com
To make a request for subscription please use the form below.