US employment growth accelerates in February but falls short of expectations, unemployment rate rises to 4.1%
US employment growth accelerates in February but falls short of expectations, unemployment rate rises to 4.1%
① The non farm payroll in the United States increased by 151000 in February, higher than the revised 125000 in January, but lower than the market expectation of 160000. The unemployment rate rose from 4.0% in January to 4.1%.
② Despite the acceleration of employment growth, uncertainty in trade policies and federal government spending cuts may weaken the resilience of the labor market in the coming months.
③ The Trump administration's trade policy fluctuations have led to a significant decline in business and consumer confidence since January, and the stock market has also experienced selling. The Nasdaq index has entered a correction zone since its high in December last year.
④ Although the labor market is still supporting moderate economic growth, the decline in consumer spending, slowdown in housing construction, and widening trade deficit have prompted economists to lower their first quarter GDP expectations from 2% to below 1.5%.
⑤ The stability of the labor market may provide the Federal Reserve with more time to maintain interest rates unchanged while observing the impact of tariffs and immigration policies on the economy.
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