February 2024 Employment Numbers 275K: Opportunities and Data Trends

The Feb employment numbers have been released and it indicates there are still economic adjustments occurring that are for the most part making their way through the economic supply system. We could also be reaching a point of market saturation of labor so we may want to increase productivity and technology to maximize the human capital we have. There is room for training, education, and broad based opportunities.

Furthermore, We also have a new immigrant labor problem to deal with so we may consider pathways to help them move into productive work to grease the small business and other hiring needs that haven't been filled. Of course those being from the stock that we desire to retain versus deporting.

 (Not a discussion on how to do that or if its politically acceptable. Large pools of entry labor can be an untapped labor resource for the military, small business, service and manufacturing. Vetting workers for work visas could get them paying taxes and contributing. That doesn't solve the problem of newcomers or those who may not have a positive influence on our country. We still must manage the boarder flow in a bi-partisan way.) 

"Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rate increased to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing" (BEA Employment Rate, Feb 2024, para 1).

Reviewing the table below you can find reasonable bumps in construction, transportation and warehousing, healthcare, private service, and leisure. Understanding these tables tells you about unemployment trends, which industries are picking up and which are slowing. Keep in mind these are short term numbers but trends can form over time. They can also change. So you have to keep on top of the economic news to envision what may be happening.

What does all that mean? What do you think?