Unemployment dips to 8.9 percent - Trade Only Today

Unemployment dips to 8.9 percent

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About 192,000 new jobs were added in February and the unemployment rate dipped to 8.9 percent, the U.S. Bureau of Labor Statistics reported today.

Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing.

There were 13.7 million unemployed people in February.

The number of people who lost jobs and those who completed temporary jobs, 8.3 million, continued to trend downward in February. The number has fallen by 1.2 million during the past 12 months.

The number of long-term unemployed was 6 million and it accounted for 43.9 percent of the unemployed.

The number of people employed part time for economic reasons was essentially unchanged, at 8.3 million, in February. These people were working part time because their hours had been cut back or because they were unable to find a full-time job.

In February, 2.7 million people were marginally attached to the labor force, up from 2.5 million a year earlier.

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