Unemployment Increases More Than Expected As More People Look For Work

Unemployment increased in February even as the number of new jobs exceeded analysts’ forecasts, according to data from the Bureau of Labor Statistics released Friday.

Total nonfarm employment increased by 311,000, surpassing analysts’ expectations of 225,000 new positions. The unemployment rate rose from 3.4% in January to 3.6% in February, likewise surpassing expectations of another 3.4% reading for a modest uptick in joblessness.

The increase in unemployment occurred in part because the labor force participation rate, which has failed to recover following the lockdown-induced recession, saw an increase from 62.4% in January to 62.5% in February, according to data from the Bureau of Labor Statistics. The metric tracks the share of the working-age population currently employed or seeking a position.

“Contributing to upward pressure here, there were more

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