Higher Unemployment as Good News

The Employment Situation Summary for February shows that nonfarm payroll employment grew by 243,000 – so why did the unemployment rate rise to 4.8%? The Household Survey indicated a 183,000 increase in employment, which meant that the employment to population ratio remained at 62.9%. The civilian labor force grew by 335,000, which bumped the labor force participation rate from 66.0% to 66.1%.