MARCH 10, 2025 – 151,000 JOBS CREATED IN FEBRUARY
The Labor Department reported that 151,000 new jobs were added in February; this was the 50th week of job growth. The unemployment rate rose to 4.1 percent from 4 percent in January, remaining just above record lows. Average hourly wages were up 0.3 percent for the month, as expected, or 4 percent on an annual basis.
The February job growth data was better than the downwardly revised 125,000 January number, but below analysts’ expectations for 170,000. Many of the government layoffs took place after the data was compiled, so those job losses will be in the March report. Private sector hiring has slowed over the last 2 years, leading economists to expect some cooling in economic growth this year. Analysts are waiting further data to gauge the direction of the economy given the instability that has arisen from the change in the government.