Payrolls Rise in February, but Unemployment Rises to 5.4%

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mployers added 262,000 workers to payrolls in February, the Labor Department reported Friday.

But the the nation’s unemployment rate rose to 5.4% last month, from 5.2% in January, Labor said. The rate is determined by a separate survey of households from the payrolls data, Bloomberg reported.

The gain in jobs, which was the most since October, followed a revised 132,000 increase in January that was less than previously estimated, Bloomberg said.

Economists had forecast a 225,000 increase in payrolls for February and the unemployment rate to hold steady, Bloomberg said. January's 5.2% unemployment rate was a three-year low.

Since employment levels drive so much economic activity, an increase in employment can help consumer confidence and spending patterns, which affect trucking demand.

Manufacturing employment rose by 20,000 jobs in February, compared with a loss of 20,000 in January, Labor said.

Employment in service-producing industries, which include retailers, banks and government agencies, rose 207,000 last month after a gain of 149,000 in January.

Retail employment grew by 29,600 in February, Labor said.