U.S. Economy Brief - 03.05.10

Employment Situation
Nonfarm payroll employment was little changed (-36,000) in February, and the unemployment rate held at 9.7%.

Employment fell in construction and information, while temporary help services added jobs.

Unusually severe winter weather in parts of the country may have affected payroll employment in February; however, it is not possible to quantify precisely the net impact of the winter storms.

Productivity and Costs
Productivity increased 6.9% in the nonfarm business sector during the fourth quarter of 2009 as unit labor costs fell 5.9% (seasonally adjusted annual rates, revised).

In manufacturing, productivity rose 6.6% while unit labor costs fell 6.3%.