In February, nonfarm payroll employment in the US saw an increase of 151,000, which was below initial expectations. Concurrently, the unemployment rate rose slightly to 4.1%. This data marks the first complete month of indicators under the Trump administration, occurring amidst significant cuts to federal government jobs by the Department of Government Efficiency. Although these job cuts began after the mid-month data collection, their impact will be reflected in subsequent reports, raising concerns about the labor market amid growing uncertainty regarding economic policy and tariffs.
Nonfarm payroll employment in the US increased by 151,000 in February, falling short of expectations, while the unemployment rate edged up slightly to 4.1%.
These were the first full-month figures under the new Trump administration and come amidst large-scale cuts to federal government jobs by the Department of Government Efficiency (DOGE).
Cebr expects the ongoing uncertainty around US economic policy, specifically tariffs, to pose a downside risk to the labour market and the wider economy in the coming months.
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