February BLS Jobs Report

Staff Writer at Staffing Hub (03/10/2023)

Nonfarm payroll employment rose by 311,000 jobs in February, following the addition of 504,000 jobs in January (downward revision), according to the latest data from the Bureau of Labor Statistics (BLS). February’s job growth is in line with the six-month average of +343,000 jobs.

“The U.S. labor market is the strongest it’s been in more than 50 years,” said Nicola Hancock, managing director of the Americas region at AMS. “There are less layoffs now than at any time in the 20 years before the pandemic. That said, some companies are still letting go of a small percentage of their workforce, mostly due to right sizing after an unprecedented hiring surge in 2021 and early 2022. On the other side of that, industries such as travel and hospitality are still trying to hire back the talent they lost.”

This article originally appeared on staffinghub.com. Use this link to see the full article: BLS Jobs Report: Nonfarm Payroll Adds 311,000 Jobs in February, Unemployment Rate Edges up to 3.6%