We all know the headline numbers were really strong, with 236,000 new jobs created in February as the unemployment rate fell to 7.7%, the lowest since December 2008. Here’s a look at some details, with quotes taken from the BLS release.
Retail hiring continues
This is a good sign that retailers think the consumer can hold up despite the payroll tax increase, rising gasoline prices and sequester uncertainty.
“Employment continued to trend up in retail trade in February (+24,000). Retail trade has added 252,000 jobs over the past 12 months. Employment also continued to trend up over the month in food services and drinking places and in wholesale trade.”
We’ve been telling you not to sleep on the housing recovery for a while. We saw the biggest gain in construction jobs since March 2007.
“In February, employment in construction increased by 48,000. Since September, construction employment has risen by 151,000. In February, job growth occurred in specialty trade contractors, with this gain about equally split between residential (+17,000) and nonresidential specialty trade contractors (+15,000).”
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