Non-Farm Payrolls in the US Exceed Expectations

In February, non-farm payrolls in the United States exceeded expectations, totaling 275,000. However, the country witnessed its highest unemployment rate in two years, reaching 3.9%. Despite this, average hourly earnings, a key inflation indicator, fell below monthly expectations.

Non-farm payrolls in the US for February surpassed expectations, coming in at 275,000, significantly higher than the anticipated 190,000.

The nation experienced a rise in the unemployment rate, which increased from 3.7% to 3.9% in February, contrary to the expected unemployment rate of 3.7%.

In January, non-farm payrolls were reported at 353,000, significantly exceeding estimates.

According to data from the US Bureau of Labor Statistics, there was an increase of 223,000 jobs in the private sector and 52,000 jobs in the public sector. Expectations were for a rise of 160,000 jobs in the private sector.

Monthly increases in average hourly earnings fell below expectations, with a 0.14% rise compared to the anticipated 0.2%. However, the annual increase was reported at 4.28%.

The labor force participation rate in the US was reported at 62.5%.