Fri, 07 Mar 2025

Fri, 07 Mar 2025 US job growth stable as government cuts start

Employers added 151,000 jobs in February but there was a drop in federal employment.

* The US government workforce dropped by 10,000 in February due to Trump's cuts.
* However, overall hiring remained stable with 151,000 jobs added across the economy.
* The unemployment rate ticked up to 4.1% from 4% in January.
* Analysts had forecast around 170,000 new jobs, so the actual figure was slightly lower than expected.
* Hiring was driven by healthcare and financial firms, as well as a small gain in manufacturing jobs.
* Government hiring slowed sharply, but analysts cautioned that this report does not yet reflect the full extent of Trump's planned cuts.
* The report suggests the labor market is cooling, and experts warn that this trend may persist due to various headwinds facing the US economy.
* President Trump acknowledged that there could be some disturbance in the economy due to his policies, but believes they will unleash private sector growth.
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