Payrolls Rise 243,000 in February; Unemployment Rises to 4.8%

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ayrolls rose 243,000 in February while the unemployment rate rose to 4.8% from 4.7% the previous month, the Labor Department said Friday.

The jobs gain exceeded of analysts’ forecasts 210,000, Bloomberg reported. It followed a 170,000 rise in January.

Economists had also forecast the unemployment rate to hold at 4.7%, Bloomberg said.

Labor's unemployment-rate gauge is based on a survey of households. The number of payroll jobs added is determined by a separate survey of business and government establishments.

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

Manufacturing employment fell by 1,000 jobs, the first decline in five months. The manufacturing workweek rose to 41 hours from 40.9 hours.

ervice-industry employment, which includes retailers, banks and government agencies, rose by 198,000 following a 105,000 gain in January.