Where The Jobs Were In February: Who's Hiring And Who Isn't

While February was expected to match the January payrolls number at best, the February payrolls print was a blockbuster, blowing expectations out of the water with 313K jobs added, over 785K according to the Household Survey, and a record 1 million full and part-time jobs.

So which sectors were responsible for the surge in February employment? The key highlights: virtually every industry added jobs in February, with a particular focus on construction workers, which added a whopping 61K jobs in February...

  • Construction: +61K
  • Durable Goods: +32K
  • Retail: +50K (Big Building Materials and Department Store non-firing)
  • Professional Services: +50K (solid temp workers of +27K)
  • Government: +26K (Schools +27K)

... with the exception of information, which saw a drop of 12K jobs.

Some other notable changes:

  • Manufacturing: +31K
  • Healthcare: +9K
  • Mining: +9K
  • Financial Activities: +28K

Commenting on the data, SouthBay research noted the following:

  • Construction: Much higher than expected.  Homebuilders are hiring and the bottlenecks I saw did not show up in BLS data
  • Manufacturing: Higher than expected.  My data shows demand is strong but more moderate
  • Financial: Higher than expected.  More lending and sales agents

What was also quite notable was the sharp, +50,300 jump in retail jobs, which according to the BLS, have wiped out the doldrums from the recent bricks and mortar collapse, and are back to record high.

Southbay's summary: "Broad strength.  Notable strength in the supply chain (manufacturing, transportation) and consumer (home construction, Lending, Retail, Leisure & Hospitality)"

Finally, as Bloomberg shows, below are the industries with the highest and lowest rates of employment growth for the most recent month: monthly growth rates are shown for the prior year.

Comments

Chupacabra-322 Give_me_liberty_or Fri, 03/09/2018 - 10:43 Permalink

Keep digging.  We’re here.  ZH is half the site it used to be.  Comments section has morphed into smorgasbord of mostly half wits which only accelerated before, during & after the election.  

The new comments format is atrocious.

Sure They’re still some die hard good posters & some veterans left but to few & far in between.

 

Think I’ll take my talents over to Sibel Edmonds site Newsbud.com or The Gateway Pundit.  

 

Cheers.

 

In reply to by Give_me_liberty_or

InnVestuhrr Chupacabra-322 Fri, 03/09/2018 - 10:55 Permalink

I agree. Used to be investors on ZH, were able to share rational analysis and insights into economy, investments, etc, but now ZH dominated by unemployed unemployable proletariat vermin who have created nothing, earned nothing, just demand freebies, ranting how all the successful people cheated their way to success and / or screwed them over. ZH has become a deadbeat cesspool.

In reply to by Chupacabra-322

NumberNone InnVestuhrr Fri, 03/09/2018 - 12:41 Permalink

Puhlease...ZH came into it's own during the 'Great Recession' and specialized in Doom Porn feeding an audience that wants to see the system burn.  If you took stock advise from ZH you would have shorted at 6,000 because it's all going to come crashing down 'any day now'.  

ZH provides a mixture of content that ranges from actual useful information to pouring chum in the water to stir up the crazies.  The comment section has always been pure entertainment with a few gems scattered throughout.  

In reply to by InnVestuhrr

Oldwood Give_me_liberty_or Fri, 03/09/2018 - 10:50 Permalink

we are a divided nation, division on almost every topic. Sites such as this can become an echo chamber as most who will post do so as a means of venting hostility and aggression rather than seeking debate and possible true enlightenment. Our insecurities blocks us from discourse and instead promotes "fight club" where we can do battle with anonymous adversaries. We are cowards in that we only want to bully others with slurs and insults, then take our leave feeling more superior for doing it, with NO consequence or accountability....the very thing we see as corruption and dysfunction in our government.

Society and civilization depends on reasoned debate and discourse, and if all we seek is reinforcing our biases, nothing of "growth" will ever occur. We are all destined to become the lone shooter somewhere reaching out to punish and destroy our faceless opponents.

In reply to by Give_me_liberty_or

gaoptimize rccalhoun Fri, 03/09/2018 - 10:50 Permalink

You suffer from a lack of imagination regarding "What can go wrong?".  I of course would cheer a future where the dead wood in our institutions, our cultural decline, demographic attack from barbarians, and our unsustainable unfunded liabilities could be resolved without an economic conflagration, but I continue to believe that is extremely unlikely.

Zerohedge is critical early warning and surveillance of all these issues.

In reply to by rccalhoun

Oldwood QueenDratpmurt Fri, 03/09/2018 - 11:08 Permalink

There are many victims of decades of government madness, and there are those who have found themselves on the dependency roster and don't like it one bit, and then there are others (progressives) that applaud it, vote for more of it and will KILL to preserve it.

Progressives want to simply things by easy categorization into groups. We see it for years in blacks where a black who understood conservative principles and chose to live by them was castigated as less than human, less than black. They are doing the same with Hispanics, insisting that a TRUE Hispanic could NEVER support Trump, even though progressives have been instrumental in any oppression of Hispanics and again try to disparage any conservative Hispanic as a traitor to his ethnicity.

The fact that there those on disability or other government "entitlements" proves nothing about them or conservatism, and if there was anything prototypical in hypocrisy, it would be the generations of democrat progressives who have destroyed those groups they claim to so vociferously protect.

The ONLY path to prosperity AND liberty is through conservatism, personal responsibility and hard work.....it will never sell. It must become a necessity, which thanks to government will occur later than sooner. The power of dependency can only last as long as there is still seed corn to consume. Once gone, only those who save and plant will survive. There is only one sacrifice worth making and this is to sacrifice for our future, for those we care about.

In reply to by QueenDratpmurt

Herdee Fri, 03/09/2018 - 10:19 Permalink

The BULLSHIT from government keeps on coming but the truth of this economic situation is that no matter what kind of spin they want to put on it you don't have an economy if you have a Low Velocity on M2. Money isn't changing hands because people are hard up. Just look at why they need inflation because at 2% the currency devalues. What is it worth after every 35 years based on purchasing power? Every 70 years of a man's life, the money becomes essentially worthless. The only way out for them to try to reduce their debts and obligations will be hyperinflation. In other words they have to really print in order to make the currency even more worthless just to pay their bills. There's not the tax money coming into the Treasury any more to pay the bills. Numerous central banks that are accumulating gold reserves instead of buying Treasuries already see this and understand why the U.S. government is into trillion dollar deficits which will expand to multi trillion dollar deficits. The floating supply of gold bullion is slowly being taken off the market so that manipulators that use 100 times leverage have less gold available to hypothecate as time goes on. The only other way out is for them to create a super deflationary cycle just like the great depression in order to wash out all the bad debt. The politicians headed by the present "King or Master" of debt will print really big, don't worry, it's just the start of it and it's coming. Trump knows the job that he has to do. Next step is trillions of debt on infrastructure but it won't work. Gold does good during both economic scenarios.

https://fred.stlouisfed.org/series/M2V

https://www.youtube.com/watch?v=dL6ivMCw4GA&feature=youtu.be&utm_conten…

BandGap Herdee Fri, 03/09/2018 - 10:47 Permalink

The bright side of this is that the paper from air will be used to update infrastructure. And that will be done analogous to the CCC camps of the 30s. Keeping young men busy and fed instead of rioting and looting. And young men living in camps following orders....where have I seen this before? Oh yeah, that's for the next phase when the bills really come due. Who dances with whom is being played out right in front of our eyes.

Funny how the alignment is taking shape.

They aren't tariffs. They are the movement to a war economy by facilitating production on US soil. Shortest supply line.

 

 

In reply to by Herdee

gaoptimize LarryC Fri, 03/09/2018 - 10:59 Permalink

There are ~60 million not officially reported unemployed that will take more than 2 decades at this level of growth to re-absorb into the job market.  There will be a growing stream of displaced workers due to automation, robotics, and eventually General Artificial Intelligence.  Not saying there isn't a lot of lying going on, but based on the atrocious mentality of my 12-yo daughter's cohorts, I suspect there will be worsening competition for effective employees in most fields.

In reply to by LarryC

wmbz Fri, 03/09/2018 - 10:33 Permalink

Construction in my neck of the woods S. Carolina, is off the charts and has been. Builders like D.R Horton and many others are slapping up crappy McMasions left and right. I know a couple small contractors that have work lined up 2 years out.

Gotta keep building these high dollar dumps for all the carpetbaggers moving here. It is a shame, what this state is turning into.

Of course we have our senator, Little Lindy "butt boy" Graham to be proud of. 

Let it Go Fri, 03/09/2018 - 10:33 Permalink

Today has come to be known as "Job Friday." Because it is the day when the BLS releases its latest jobs report that is watched closely by economists and investors. The report suggests whether the American economy is on track and its future path. This should also be a reminder that Americans don't just want jobs, they want "good jobs." More on this subject in the article below.

 http://Job Friday Is A Reminder It Is Good Jobs We Want.html

g3h Fri, 03/09/2018 - 10:34 Permalink

When ZH has nothing but good things to say about this report, you know it is a blockbuster.

Still doesn't move a bit of bubble-blowing and "wealth-protecting" Fed's mindset.