February US Jobs Report: 92,000 Fall In Payrolls Far Worse Than Expected
The US economy lost 92,000 jobs in February, according to the latest data from the Bureau of Labor Statistics, in a far weaker report than had been expected. The unemployment rate rose to 4.4% in February from 4.3% in January.
Nonfarm payroll employment had been forecast to show an increase of 60,000, down from the 130,000 increase initially reported for January (since revised down to 126,000), according to FactSet. Meanwhile, the unemployment rate had been forecast to remain steady at 4.3%.
February Jobs Report Key Stats
- Total nonfarm payrolls fell by 92,000 after rising by 126,000 in January.
- The unemployment rate rose to 4.4% in February from 4.3% in January.
- In February, average hourly wages rose by 15 cents, or 0.4%, to $37.32.
This article was generated with the help of automation and reviewed by Morningstar editors.
Learn more about Morningstar’s use of automation.
The author or authors do not own shares in any securities mentioned in this article.
Find out about Morningstar’s editorial policies.