U.S. added 151,000 jobs in February, as hiring stays steady
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The U.S. economy added 151,000 jobs in February, while the unemployment rate ticked up to 4.1%, the Labor Department said on Friday.
Why it matters: The first full jobs report of the Trump era shows healthy hiring last month, defying other indicators that suggested trade uncertainty was weighing on the economy.
Details: The Labor Department said revisions for employment in the prior two months were essentially flat, with about 2,000 fewer combined payrolls than initially reported.
- Yes, but: The federal government shed 10,000 jobs last month, possible fallout from Elon Musk's cost-cutting initiative, the Department of Government Efficiency.
What to watch: The Federal Reserve has been in a holding pattern with interest rates as inflation looks more persistent. They also cite fogginess related to White House policy that might impact the economy.
- Fed chair Jerome Powell is expected to update his outlook on the economy in a speech Thursday afternoon.
The bottom line: Confusion and concern about tariffs has plagued business and consumer sentiment. It has also ignited a sell-off on Wall Street.
- As of February, that uncertainty did not translate into a slowdown in hiring.
Editor's note: This story has been updated with details on the report.
