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The growth of employment was weaker than expected in February, although still stable despite the president Donald TrumpEfforts to reduce federal workforce.
Non -agricultural payrolls increased by 151,000 seasonally adjusted in the month, better than the 125,000 revised downward in January, but less than the 170,000 Dow Jones consensus prognosis, the Labor Statistics Office of the Labor Department reported Friday. The unemployment rate obtained more than 4.1%.
The report is produced in the midst of efforts of ELON ALMIZCLEThe government efficiency department to reduce the federal government, starting with purchase incentives and including massive shots that have impacted multiple departments.
Although the reductions will probably not feel completely until the coming months, the efforts begin to be shown. The use of the federal government decreased by 10,000 in February, although the payrolls of the government in general increased by 11,000, said the BLS.
Many of the dismissals related to Dux occurred after the reporting period of the BLS survey, which means that they will not be included until the March report. The external firm Challenger, Gray & Christmas reported earlier this week that he announced dismissals under the efforts of Musk totaled more than 62,000.
Medical care opened the way in job creation, adding 52,000 jobs, in line with its average of 12 months. Other sectors that publish profits included financial activities (21,000), transport and storage (18,000) and social assistance (11,000). Retail trade published a decrease of 6,000 workers.
Regarding salaries, average average earnings rose 0.3%, as expected, although the annual 4%increase was a bit softer than the 4.2%prognosis.
Securities market futures increased after the report, while treasure yields were lower.
“We are not putting many actions in the job report at this time,” said Byron Anderson, head of fixed income at Laffer Tengler Investments. “Today’s data were mixed at best, but we still have no clarity about the economy that advances with Trump’s agitation. The more we have chaos and agitation of Trump, the greater the probability that we will eventually have a negative data trend.”
Although the report indicated continuous growth of employment, some of the details were a little less positive.
The participation rate of the workforce fell to 62.4%, its lowest level since January 2023, since the workforce decreased by 385,000. A broader unemployment measure that includes discouraged workers and those who occupy part -time positions for economic reasons increased half a percentage to 8%, their highest level since October 2021.
In addition, the domestic survey, which uses the BLS to calculate the unemployment rate, told a different story, which shows a drop of 588,000 workers. Those who had part -time jobs but who wanted full -time positions increased to 4.9 million, an increase of 460,000.
The BLS report tracks a tumultuous month for markets and the economy.
The actions have revolved daily since Trump assumed the position, with movements that depend largely on the tariff news that they have changed rapidly. At the same time, Musk’s efforts through dogs have been reflected in surveys that show high levels of workers’ anguish.
However, February numbers show that the labor market is stable. The December job count was reviewed up to 323,000, an increase of 16,000, while the new January figure represents a 18,000 decrease in the previous estimate.