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- U.S. unemployment rate declines to 5.5% in January, 295,000 jobs were added
U.S. unemployment rate declines to 5.5% in January, 295,000 jobs were added
The U.S. Labor Department released the labour market data on Friday. The U.S. economy added 295,000 jobs in February, exceeding expectations for a rise of 241,000 jobs, after a gain of 239,000 jobs in January. January's figure was revised down from a rise of 257,000 jobs.
The strongest job gains showed food services and drinking places, professional and business services, construction, healthcare, and transportation and warehousing.
The U.S. unemployment rate fell to 5.5% in February from 5.7% in January, beating forecast of a decline to 5.6%. That was lowest level since May 2008.
The decline was driven by people leaving the labour force.
Average hourly earnings increased 0.1% in February, missing forecasts of a 0.2% gain, after a 0.2% drop in January. January's figure was revised up from a 0.1% increase.
The labour-force participation rate declined to 62.8% in February.
These figures are signs that the labour market in the U.S. is strengthening. But the Fed might delay to hike its interest rate due to the weak wage growth figures and low inflation.
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