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Jobs · ORIGINAL ECONOMIC RELEASE

February 2015 Employment Situation

Total nonfarm payroll employment increased by 295,000 in February, and the unemployment rate edged down to 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in food services and drinking places,…

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Total nonfarm payroll employment increased by 295,000 in February, and the unemployment rate edged down to 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing. Employment in mining was down over the month.

Household Survey Data

Both the unemployment rate (5.5 percent) and the number of unemployed persons (8.7 million) edged down in February. Over the year, the unemployment rate and the number of unemployed persons were down by 1.2 percentage points and 1.7 million, respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for teenagers decreased by 1.7 percentage points to 17.1 percent in February. The jobless rates for adult men (5.2 percent), adult women (4.9 percent), whites (4.7 percent), blacks (10.4 percent), Asians (4.0 percent), and Hispanics (6.6 percent) showed little or no change. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.7 million in February. These individuals accounted for 31.1 percent of the unemployed. Over the past 12 months, the number of long-term unemployed is down by 1.1 million. (See table A-12.)

The civilian labor force participation rate, at 62.8 percent, changed little in February and has remained within a narrow range of 62.7 to 62.9 percent since April 2014. The employment-population ratio was unchanged at 59.3 percent in February but is up by 0.5 percentage point over the year. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in February at 6.6 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

In February, 2.2 million persons were marginally attached to the labor force, little changed from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 732,000 discouraged workers in February, little different from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.4 million persons marginally attached to the labor force in February had not searched for work for reasons such as school attendance or family responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment rose by 295,000 in February, compared with an average monthly gain of 266,000 over the prior 12 months. Job gains occurred in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing. Employment in mining declined over the month. (See table B-1.)

In February, food services and drinking places added 59,000 jobs. The industry had added an average of 35,000 jobs per month over the prior 12 months.

Employment in professional and business services increased by 51,000 in February and has risen by 660,000 over the year. In February, employment continued to trend up in management and technical consulting services (+7,000), computer systems design and related services (+5,000), and architectural and engineering services (+5,000).

Construction added 29,000 jobs in February. Employment in specialty trade contractors rose by 27,000, mostly in the residential component. Over the past 12 months, construction has added 321,000 jobs.

In February, employment in health care rose by 24,000, with gains in ambulatory care services (+20,000) and hospitals (+9,000). Health care had added an average of 29,000 jobs per month over the prior 12 months.

Transportation and warehousing added 19,000 jobs in February, with most of the gain occurring in couriers and messengers (+12,000). Employment in transportation and warehousing grew by an average of 14,000 per month over the prior 12 months.

Employment in retail trade continued to trend up in February (+32,000) and has grown by 319,000 over the year.

Manufacturing employment continued to trend up in February (+8,000). Within the industry, petroleum and coal products lost 6,000 jobs, largely due to a strike.

Employment in mining decreased by 9,000 in February, with most of the decline in support activities for mining (-7,000).

Employment in other major industries, including wholesale trade, information, financial activities, and government, showed little change over the month.

In February, the average workweek for all employees on private nonfarm payrolls was 34.6 hours for the fifth month in a row. The manufacturing workweek was unchanged at 41.0 hours in February, and factory overtime edged down by 0.1 hour to 3.4 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.8 hours. (See tables B-2 and B-7.)

In February, average hourly earnings for all employees on private nonfarm payrolls rose by 3 cents to $24.78. Over the year, average hourly earnings have risen by 2.0 percent. In February, average hourly earnings of private-sector production and nonsupervisory employees were unchanged at $20.80. (See tables B-3 and B-8.)

After revision, the change in total nonfarm payroll employment for December remained at +329,000, and the change for January was revised from +257,000 to +239,000. With these revisions, employment gains in December and January were 18,000 lower than previously reported. Over the past 3 months, job gains have averaged 288,000 per month.

Source: U.S. Bureau of Labor Statistics · Original release Mar 6, 2015.

Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.

MortgageRates.news analysis · Historical context

The mortgage market around this release

This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.

Read beyond one jobs number

The Employment Situation combines two surveys: establishment data measure payroll jobs, hours and earnings, while household data measure people’s employment status and the unemployment rate. A payroll-job change and an unemployment-rate change therefore answer different questions. Check the reference period, participation and revisions alongside the headline. Labor-market conditions inform the policy outlook, but a later mortgage-rate change can reflect many developments; this calendar window cannot identify the report as its cause. BLS Employment Situation tables and technical notes.

Nearest published observation on or before each target date
Benchmark30 days earlierFeb 4, 2015Publication referenceMar 6, 201530 days laterApr 5, 2015
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.66%Observed 3.75%Observed +9 bps vs. earlier reference3.70%Observed −5 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the TreasuryUnavailableBefore available coverage, which starts Jan 4, 2016.UnavailableBefore available coverage, which starts Jan 4, 2016.UnavailableBefore available coverage, which starts Jan 4, 2016.

Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.

Six months around publication

Dec 6, 2014 – Jun 6, 2015
Historical mortgage and Treasury observations around Mar 6, 2015Each dot is a published observation. No missing values are estimated. The dashed vertical line marks the article’s publication calendar date. Rates and yields are percentages.3.50%3.75%4.00%Publication date30-year fixed mortgage: 3.93% · Dec 11, 201430-year fixed mortgage: 3.80% · Dec 18, 201430-year fixed mortgage: 3.83% · Dec 24, 201430-year fixed mortgage: 3.87% · Dec 31, 201430-year fixed mortgage: 3.73% · Jan 8, 201530-year fixed mortgage: 3.66% · Jan 15, 201530-year fixed mortgage: 3.63% · Jan 22, 201530-year fixed mortgage: 3.66% · Jan 29, 201530-year fixed mortgage: 3.59% · Feb 5, 201530-year fixed mortgage: 3.69% · Feb 12, 201530-year fixed mortgage: 3.76% · Feb 19, 201530-year fixed mortgage: 3.80% · Feb 26, 201530-year fixed mortgage: 3.75% · Mar 5, 201530-year fixed mortgage: 3.86% · Mar 12, 201530-year fixed mortgage: 3.78% · Mar 19, 201530-year fixed mortgage: 3.69% · Mar 26, 201530-year fixed mortgage: 3.70% · Apr 2, 201530-year fixed mortgage: 3.66% · Apr 9, 201530-year fixed mortgage: 3.67% · Apr 16, 201530-year fixed mortgage: 3.65% · Apr 23, 201530-year fixed mortgage: 3.68% · Apr 30, 201530-year fixed mortgage: 3.80% · May 7, 201530-year fixed mortgage: 3.85% · May 14, 201530-year fixed mortgage: 3.84% · May 21, 201530-year fixed mortgage: 3.87% · May 28, 201530-year fixed mortgage: 3.87% · Jun 4, 2015Dec 6, 2014Mar 6, 2015Jun 6, 2015
30-year fixed mortgage26 observations
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.

What that benchmark difference would mean for a $300,000 loan

At the publication reference$1,389.35/month

3.75% · Mar 5, 2015

At the later reference$1,380.85/month

3.70% · Apr 2, 2015

The illustrative principal-and-interest payment is $8.50 lower per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.

Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.

Sources, historical coverage and calculation limits

The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.

Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.

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