Economic Statistics for 7 Mar 14
The Labor Department reports that 175,000 net new jobs were created in February. The unemployment rate rose a tick to 6.7%. Average hourly earnings rose 0.4%, while the average work week fell from 34.4 to 34.2 hours. The labor force participation rate held steady at 63.0%. The real unemployment rate, using the historical average rate of labor force participation, rose slightly, from 11.14% to 11.19%.
The nation’s trade deficit was $-39.1 billion in January.
January consumer credit rose by $13.7 billion, though this hides a decline of $0.2 billion in revolving credit.