The US Economy Improves Further, as Employment Jumps in February
Skerdian Meta•Friday, March 5, 2021•1 min read
The US economy has been performing quite well and the pace has improved in recent months. Manufacturing is surging, while services are also expanding at a good pace. Employment has been lagging somewhat, but it is improving as well, showing another decline in the unemployment rate for February, with the number of new jobs jumping higher.
US Employment Report
- Prior was +49K (revised to +166K)
- Unemployment rate 6.2% vs 6.3% expected
- Prior unemployment rate 6.3%
- Participation rate 61.4% vs 61.4% expected (was 62.8% pre-pandemic)
- Prior participation rate 61.4%
- Underemployment rate 11.1% vs 11.1% prior
- Average hourly earnings +0.2% m/m vs +0.2% expected
- Average hourly earnings +5.3% y/y vs +5.3% expected
- Average weekly hours 34.6 vs 34.9 expected
- Two month net revision -159K
- Change in private payrolls +465K vs +200K expected
- Change in manufacturing payrolls +21K vs +15K expected
- Long-term unemployed at 4.1m vs 4.0m prior
- The employment-population ratio, at 57.6% vs 57.5% prior
- Full report
When it comes to this report, good news is bad news. US 10-year yields touched above last week’s high immediately afterwards, and the dollar rose, which weighed on US equity futures.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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