Unemployment rate holds steady

The unemployment rate held steady at 4.9% for the month of February, according to data released Friday morning by the Bureau of Labor Statistics.

Total nonfarm payroll employment increased by 242,000, with gains occurring in construction, health care, retail trade, food services and drinking establishments.

Job losses continued in mining, according to the report.

Construction employment continued to trend up in February, up 19,000. The increase included a gain of 14,000 in residential specialty trade contractors. Employment in construction was up by 253,000 over the past 12 months, with residential specialty trade contractors accounting for about half of the increase.

Employment in other major industries, including manufacturing, wholesale trade, transportation and warehousing, financial activities, professional and business services, and government, showed little change over the month.

Average weekly earnings were down from January.