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Job Market Survey: DOL February 2023

Analytics

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The latest Job Market Survery for Feburary 2023

Both the unemployment rate, at 3.6 percent, and the number of unemployed persons, at 5.9 million, edged up. These numbers have shown little net movement since early 2022.

The number of persons jobless less than 5 weeks increased by 343,000 to 2.3 million. The number of long-term unemployed (those jobless for 27 weeks or more), at 1.1 million, 17.6 percent of the total unemployed

Among the major worker groups, the unemployment rate for Hispanics (5.3 percent) increased.  The unemployment rates for adult men (3.3 percent), adult women (3.2 percent), teenagers (11.1 percent), Whites (3.2 percent), Blacks (5.7 percent), and Asians (3.4 percent).

The number of persons not in the labor force who currently want a job was little changed at 5.1 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job.

The number of job losers and persons who completed temporary jobs increased by 223,000 to 2.8 million.

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