- Nonfarm payrolls in February fell by 92,000, compared with the estimate for 50,000 and below the downwardly revised January total of 126,000. It was the third time in five months that the economy lost jobs.
- Health care, the primary growth driver in payrolls, saw a loss of 28,000, due largely to a strike at Kaiser Permanente that sidelined more than 30,000 workers in Hawaii and California.
- Wages rose more than expected. Average hourly earnings increased 0.4% for the month and 3.8% from a year ago, both 0.1 percentage point above forecast.
Nonfarm payrolls fell by 92,000 for the month, compared with the estimate for 50,000 and below the downwardly revised January total of 126,000. February marked the third time in the past five months that payrolls declined, following a sharp revision showing a drop of 17,000 in December.
U.S. payrolls unexpectedly fell by 92,000 in February; unemployment rate rises to 4.4%
Nonfarm payrolls were expected to increase 50,000 in February while the unemployment rate held steady at 4.3%.
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