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March 09, 2018US EMPLOYMENT, FEBRUARY 2018 The US Bureau of Labor Statistics reports today that US non-farm payroll employment increased by 313,000 in February, following on a revised gain of 239,000 jobs in January.
Employment gains were seen mainly in construction (+61,000), retail trade (+50,000), professional/business services (+50,000), manufacturing (+31,000), finance (+28,000), health care (+19,000) and mining (+9,000). Employment in other major industries changed little month over month: whoelsale, transportation, information, leisure/hospitality, and government.
The US unemployment rate held steady at 4.1 per cent for the fifth consecutive month - persisting below pre-recession levels, and continuing a steady decline since peaking at an annual average of 9.6 per cent in 2010.
Like in the US, Canada's unemployment rates are falling below pre-recession levels. February's unemployment rates for Canada was 5.8 per cent and for Nova Scotia 7.9 per cent.
In addition to historic lows in unemployment rates, the participation rate increased to 63.0 per cent in February with a rise of 806,000 in the labour force. Unlike unemployment rates, the US participation rate has failed to return to pre-recession levels and has only increased modestly since bottoming out in 2015.
Participation rates in Canada and Nova Scotia also declined in the years after the global financial crises, but those in Nova Scotia have been rising somewhat in recent months.
With employment levels rising in the US, the employment to population level rose to 60.4 per cent in February.
Employment rates in Canada have been trending up over the last 18 months, but are still below levels observed in 2008. With an aging population and declining labour supply, Nova Scotia's employment rates have trended down since 2012, but there has been some recovery in recent months, reaching 57.3 per cent in February.
Note: NS and US labour force statistics refer to different working-age cohorts.
Source: US Bureau of Labor Statistics, Statistics Canada CANSIM table 282-0087
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