The US economy added 275K jobs in February 2024, beating forecasts of 200K and higher than a downwardly revised 229K in January. Job gains occurred in health care (67K), mostly health care services (28K) and hospitals (28K); government (52K), namely local government, excluding education (26K); food services and drinking places (42K), after changing little over the previous three months; social assistance (24K); and transportation and warehousing (20K), as couriers and messengers added 17K jobs, after losing 70K jobs over the prior 3 months. Employment also increased in construction (23K) but changed little in other major industries, including manufacturing (-4K). The January reading was revised sharply lower from an initial 353K which was the highest in a year. The December reading was also revised lower by 43K to 290K. With the January and December revisions, employment combined is 167K lower than previously reported. source: U.S. Bureau of Labor Statistics

Non Farm Payrolls in the United States increased by 275 thousand in February of 2024. Non Farm Payrolls in the United States averaged 125.25 Thousand from 1939 until 2024, reaching an all time high of 4615.00 Thousand in June of 2020 and a record low of -20477.00 Thousand in April of 2020. This page provides the latest reported value for - United States Non Farm Payrolls - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Non Farm Payrolls - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.

Non Farm Payrolls in the United States increased by 275 thousand in February of 2024. Non Farm Payrolls in the United States is expected to be 200.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Non Farm Payrolls is projected to trend around 170.00 Thousand in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-02 01:30 PM
Non Farm Payrolls
Jan 353K 333K 180K 175.0K
2024-03-08 01:30 PM
Non Farm Payrolls
Feb 275K 229K 200K 195K
2024-04-05 12:30 PM
Non Farm Payrolls
Mar 275K 198K 200.0K

Components Last Previous Unit Reference
Government Payrolls 52.00 52.00 Thousand Feb 2024
Manufacturing Payrolls -4.00 8.00 Thousand Feb 2024
Nonfarm Payrolls Private 223.00 177.00 Thousand Feb 2024

Related Last Previous Unit Reference
ADP Employment Change 140.00 111.00 Thousand Feb 2024
Average Hourly Earnings MoM 0.10 0.50 percent Feb 2024
Average Hourly Earnings YoY 4.30 4.40 percent Feb 2024
Average Weekly Hours 34.30 34.20 Hours Feb 2024
Challenger Job Cuts 84638.00 82307.00 Persons Feb 2024
JOLTs Job Openings 8863.00 8889.00 Thousand Jan 2024
Participation Rate 62.50 62.50 percent Feb 2024
Non Farm Payrolls 275.00 229.00 Thousand Feb 2024
Unemployment Rate 3.90 3.70 percent Feb 2024

United States Non Farm Payrolls
Nonfarm payrolls is an employment report released monthly, usually on the first Friday of every month, and heavily affects the US dollar, the bond market and the stock market. Current Employment Statistics (CES) program from the U.S. Department of Labor Bureau of Labor Statistics, surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual work sites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls.
Actual Previous Highest Lowest Dates Unit Frequency
275.00 229.00 4615.00 -20477.00 1939 - 2024 Thousand Monthly
SA

News Stream
US Economy Adds More Jobs Than Expected
The US economy added 275K jobs in February 2024, beating forecasts of 200K and higher than a downwardly revised 229K in January. Job gains occurred in health care (67K), mostly health care services (28K) and hospitals (28K); government (52K), namely local government, excluding education (26K); food services and drinking places (42K), after changing little over the previous three months; social assistance (24K); and transportation and warehousing (20K), as couriers and messengers added 17K jobs, after losing 70K jobs over the prior 3 months. Employment also increased in construction (23K) but changed little in other major industries, including manufacturing (-4K). The January reading was revised sharply lower from an initial 353K which was the highest in a year. The December reading was also revised lower by 43K to 290K. With the January and December revisions, employment combined is 167K lower than previously reported.
2024-03-08
US Economy Likely Added 200K Jobs in February
The US economy is set to add 200K jobs in February 2024, a sizable decrease from a one-year high of 353K hit in January. The rise in employment rise was likely driven by gains in education, healthcare, leisure and hospitality, and government sectors. Despite the slight cooling, the labor market remains tight, with the February figure continuing to surpass the 70K to 100K needed monthly to keep up with the expanding working-age population. Meanwhile, the unemployment rate is expected to remain steady at 3.7%. Also, wages likely rose at a slower 0.3%, half the 0.6% gain in January, pushing the annual change slightly down to 4.4% from 4.5%.
2024-03-08
US Economy Adds Many More Jobs than Expected
The US economy added 353K jobs in January 2024, compared to an upwardly revised 333K in December, and way above market forecasts of 180K. It is the biggest rise in employment in a year, signalling the labour market remains tight. Job gains occurred in professional and business services (74K); health care (70K), namely ambulatory health care services (33K) and hospitals (20K); retail trade (45K); and social assistance (30K). Employment also increased in manufacturing (23K) and government (36K). On the other hand, the mining, quarrying, and oil and gas extraction industry lost 5K jobs. Meanwhile, the BLS made its annual benchmark revision to earlier data. Revisions added 359K jobs to 2023’s total gains, with employment in November and December revised 126K higher. With the revisions, the US economy added an average of 255K jobs per month in 2023, higher than the monthly average of 225K earlier.
2024-02-02