The Bureau of Labor and Statistics (BLS) released February’s jobs report Friday, noting 275,000 jobs were added and the unemployment rate rose to 3.9%. Jobs gains were mostly seen in health care, government, bars and restaurants, transportation and warehousing.
“Results from the February jobs report were somewhat soft, though not alarmingly so,” said America’s Credit Unions’ Curt Long. “The unemployment rate climbed to its highest level in two years, and while the establishment survey indicated that payrolls grew by a healthy 275,000, January saw a sharp downward revision. Wage growth slowed in February, but average hours worked increased. Overall, this report brings a rate cut more firmly into view, which the Fed will most likely deliver in the second quarter.”
