The U.S. labor marketing is hot and shows no signs of slowing down. The U.S. economy added a staggering 313,00 jobs in the month of February 2018, blowing out projections of 195,000. This is the largest growth the nation has seen in a single month since July 2016 and a significant jump from January’s 239,000 new jobs.
The national unemployment rate remained 4.1% for the fifth month in a row. The unemployment rate for recent college graduates slightly rose to 20.%.
The Department of Labor also revised the job growth numbers of December 2018 and January, adding an additional 64,000 jobs. The labor rate participation rate slightly grew to at 63%.
Employment rose in construction, retail trade, professional & business services, manufacturing, financial activities, and mining. Jobs in the construction industry lead the way with 61,000 jobs created in February. Retail & professional and business services each gained 50,000 jobs.
The Commerce Department last week estimated that Gross Domestic Product grew 2.5% in the fourth quarter of 2017, which is short of the annual growth of the predicted 3%.
Check out our infographic below for more stats from the February 2018 Jobs Report: