The Unemployment Rate held steady at 9.7% in February, the same level as in January, beating the expected increase to 9.8%. The number of unemployed persons remained essentially unchanged at 14.9 million. Nonfarm Payrolls, which were expected to decrease by 49,000, showed no significant change, decreasing by 36,000in February, after decreasing by 26,000 in January, revised from a decrease of 20,000. Employment decreased in construction, transportation and warehousing and the information sector, while temporary help services added 48,000 jobs. Since touching low in September 2009, employment in temporary help services has risen by 284,000. Health careemployment continued its upward rise. Employment in manufacturing and the retail sector remained essentially unchanged.The Average Workweek declined by 0.1 hours to 33.8 hours. Average Hourly Earnings increased by 0.1%.
Consumer Creditfigures are to be released today at 3:00 PM EST. Consumer credit had decreased
at an annual rate of 4.75% in the fourth quarter of 2009. Revolving credit decreased at an annual
rate of 13%, and non-revolving credit was unchanged on net. In December, consumer credit
decreased at an annual rate of 0.75%.
Upcoming Releases
Consumer Credit (03/05 at 3:00 PM EST)
Wholesale Inventories (03/10 at 10:00 AM EST)
Crude Inventories (03/10 at 10:30 AM EST)
Treasury Budget (03/10 at 2:00 PM EST)
