February Jobs Report: U.S. Unemployment Holds Under Five Percent

Employers added 240,000 workers in February while unemployment held at 4.9 percent

SPONSORED 4:16PM • 03/07/16

According to a recent story in the New York Times, the U.S. government reported on Friday that employers added 240,000 workers in February, highlighting the labor market’s steady gains.

If you look back to four years ago during the last election cycle, unemployment was hovering around 8.3 percent and the economic recovery was still trying to gain its footing. Deep consumer debt and rising gas prices plagued the country.

As of today, unemployment has dropped sharply and the private sector has seen 72 consecutive months of uninterrupted job gains. The Labor Department did report however that wages fell .01 percent in February after promising gains in the beginning of the year.

Despite the improved economy, there are still questions that linger. There has been job growth across a variety of businesses, specifically in hospitality and service, but better paying industries such as manufacturing and energy continue to take a hit.

While employment has been improving at steady pace for more than two years, many continue to voice their opinions about low pay, or jobs beneath their skill levels.

Still, if steady job growth continues and wages increase, it may change the way we view the economy and it will certainly influence the political dynamic surrounding the upcoming election. The economy is and will always remain one of the most important factors that determine how Americans vote.

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