Employment Research Brief

Below-average hiring keeps unemployment low. Approximately 151,000 jobs were created in February, which is up from the 125,000 added the month prior. Hiring was most prominent in the health care sector with the addition of 52,000 positions, followed by 21,000 new roles tied to financial activities. Companies engaged in transportation and warehousing also increased staff counts by 18,000 personnel. While overall employment growth was down slightly from the average 168,000 jobs added per month last year, it was sufficient to keep the unemployment rate at 4.1 percent — up 10 basis points month over month. The measure has stayed between 4.0 percent and 4.2 percent since May 2024, well below the trailing-20 year average of 5.8 percent.