Tags: Record | labor | force | jobs

Report: Record Number of Americans in Labor Force

Report: Record Number of Americans in Labor Force
(AP)

By    |   Saturday, 11 March 2017 11:51 AM

A record number of Americans are either employed or actively looking for work, according to new numbers released by the Bureau of Labor Statistics this week.

This week's report shows there were 160,056,000 Americans working or seeking jobs in February, marking the first time the number went past 160 million, reports The Washington Free BeaconThat's up from January, when there were 159,716,000 in the labor force.

"This is one of the tightest labor markets I have seen in the 43-year history of National Federation of Independent Business' survey," said NFIB chief economist Bill Dunkelberg. "Overall though, the job numbers in the small business sector are solid, and owners are still showing that they are confident in the future of our economy."

The numbers of Americans who are not part of the labor force dropped from 94.37 million in January to 94.19 million in February. Meanwhile, there were 340,000 more Americans joining the labor force last month, with 176,000 leaving.

There was a slight boost in the labor force participation rates from January, when 62.9 percent were either working or looking for work, compared to 63 percent in February.

Unemployment also went down by 107,000 people, according ot the report, resulting in the unemployment rate decline. Overall, the unemployment rate went from 4.8 percent in January to 4.7 percent in February, and the U-6 measure, or the "real" unemployment rate, was 9.2 percent in February, down from 9.4 percent in January.

Nonfarm payroll employment also climbed by 235,000 in February, defeating expectations that just 190,000 jobs would be created.

Dow futures went up by 100 points after the jobs report, and National Federation of Independent Business' Juanita Duggan said small businesses are happy with President Donald Trump's new leadership team.

"Confidence remains high, but if the administration and Congress fail to address some of the small business community's biggest concerns, like tax reform and repealing and replacing Obamacare, we may see our optimism numbers change," Duggan said.

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A record number of Americans are either employed or actively looking for work, according to new numbers released by the Bureau of Labor Statistics this week.
Record, labor, force, jobs
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2017-51-11
Saturday, 11 March 2017 11:51 AM
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