The Bureau of Labor Statistics released the Employment Situation Summary for February this morning, which showed a loss of 36,000 jobs in the Establishment Survey and an increase of over 300,000 jobs in the Household Survey. The Household Survey showed the U-3 unemployment rate coming in at 9.7% and the more comprehensive U-6 unemployment rate coming in at 16.8% for the month. A more complete breakdown of the report will follow:
I want to stress that the Household Survey showed an increase of 300,000+ jobs this month and that Survey can lead the Establishment Survey (as the Establishment Survey has a large firm bias) by a few months (on both sides of a recession). Essentially, one of these surveys will regress to the mean (either the Household will stop showing growth, or the Establishment will start), likely as early as next month.
Update: I will add the birth death info as soon as it is out. Well, it is now over an hour since the report and no birth/death update. I have to go to a meeting, so I will update (hopefully) after).
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