Nonfarm payroll employment recorded a net gain of only 21,000 jobs in February, compared with forecasters’ projection of a 128,000 net gain. The previous two months’ net gains were revised down by a total of 23,000. Still, nonfarm payroll employment has increased for six straight months, averaging a net gain of 61,000 jobs per month.
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-03, pp. 12, 03.01.2004.