US Nonfarm Payrolls Rise in February

In an encouraging sign for the US economy, nonfarm employment increased by 151,000 in February, according to the latest report from the Bureau of Labor Statistics. This figure, surpassing January's 143,000, still fell short of market expectations. The unemployment rate held steady at 4.1%, with approximately 7.1 million Americans unemployed.

Key Sectors Driving Employment Growth

The healthcare sector led the way with an impressive addition of 52,000 jobs, followed by financial activities and transportation and warehousing, which added 21,000 and 18,000 jobs, respectively. However, not all sectors experienced growth, as federal employment saw a significant reduction of 10,000 jobs.

Wages and Workweek Remain Stable

Average hourly earnings saw a modest increase of 10 cents, or 0.3%, bringing the total to $35.93. Meanwhile, the average workweek remained unchanged at 34.1 hours, indicating stability in working hours across the board.