After making substantial increases in January, employers added only 43,000 workers to payrolls in February. Another measure of employment growth, the employment-to-population ratio, nevertheless remained at a record high of 64.8%. The unemployment rate was up slightly in the month to 4.1%; it has now remained below 4.2% for five consecutive months. February’s average hourly earnings rose 4 cents to $13.53, marking an increase of 3.6% over the levels of February 1999.
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-03, pp. 11, 03.01.2000.