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U.S. payrolls unexpectedly fell by 92,000 in February; unemployment rate rises to 4.4%
Payrolls fell by 92,000 due to harsh weather and a Kaiser Permanente strike, while unemployment rose to 4.4%, signaling ongoing labor market challenges, economists said.
- On March 6, the Bureau of Labor Statistics reported the United States economy shed 92,000 jobs in February, and the unemployment rate rose to 4.4%.
- Broader pressures such as tariffs, AI adoption, and high interest rates weighed on hiring, with construction losing 11,000 jobs last month and healthcare shedding 28,000 after a strike.
- The Labor Department's revisions showed private payroll measures dipped by 86,000 in February, trimmed 69,000 jobs from December and January payroll revisions, and average hourly earnings rose 15 cents to $37.32.
- Policymakers and markets reacted: the report could alter the Federal Reserve's calculus ahead of its March 17 meeting as market futures fell and crude oil spiked amid the Iran conflict.
- The report deepens a recent trend showing the three-month moving average fell to 6,000, with the breakeven hiring rate near zero to 50,000 jobs a month.
330 Articles
330 Articles
Jobs Drop by 92,000 in February After Good January Report
On Friday, the Joint Economic Committee released its Monthly Employment Update. According to the Committee, in February, 92,000 jobs were lost (-86K private sector, -6K government) after a stronger than expected showing in January. The unemployment rate ticked up slightly from 4.3 percent to 4.4 percent while the labor force participation rate dropped by 0.1...
U.S. employees have eliminated 92.000 jobs last month, according to the Department of Employment's announcement of Friday, and losses affect almost all major sectors. The rate of unemployment has increased by 4.4%, according to The New York Times. In an opinion article for the same publication, former trade secretary Gina Raimondo warned that artificial intelligence...
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