Feb. Non-Farm Payrolls Rise 295,000; Jobless Rate 5.5%

Non-farm payrolls rose by 295,000 in February and the unemployment rate fell to 5.5% from 5.7% in in January, the Bureau of Labor Statistics reported Friday.

In January, non-farm payrolls rose a revised 239,000, originally reported as 257,000.

Economists polled by Thomson/Reuters expected 240,000 new jobs and a 5.6% jobless rate.

Private payrolls grew 288,000 in the month, following a 237,000 gain in January. Manufacturing payrolls added 8,000 jobs after a 21,000 gain the prior month.

Average weekly hours held at 34.6, while average hourly earnings rose three cents to $24.78.

Economists expected private payrolls to rise 226,500, manufacturing to add 13,500, a 0.2% rise in earnings and a 34.6 hour workweek.

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