Rarely has employment shown such wide month to month swings as in the first two months of 1996. Following January's revised decline of 188,000, nonfarm payrolls soared by 705,000 in February - the largest monthly gain since September 1983, when they rose 1.1 million.
Suggested citation: “Labor Markets,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-03, pp. 12, 03.01.1996.