The US labor market showed signs of resilience in February, with nonfarm payrolls increasing by 151,000 jobs, according to the Bureau of Labor Statistics. This follows a downwardly revised gain of 125,000 jobs in January. However, the unemployment rate edged up to 4.1%.
Economists had projected a stronger job growth of 160,000 positions, with estimates ranging widely from 30,000 to 300,000. The slight uptick in unemployment from 4.0% in January adds to the growing uncertainty surrounding the job market.
This report, the first under President Donald Trump’s administration, comes amid concerns over trade policy and deep federal spending cuts. Economists warn that businesses are struggling to plan due to shifting trade strategies, potentially weakening job growth in the coming months.
