Washington | US employers unexpectedly cut jobs in February and the unemployment rate rose, pointing to lingering fragility in a labour market that was thought to be stabilising.
Nonfarm payrolls decreased 92,000 last month after a strong start to the year, according to Bureau of Labor Statistics data out on Friday (Saturday AEDT). The unemployment rate climbed to 4.4 per cent. The decline in payrolls — which was one of the largest since the pandemic — partly reflected a decrease in health care employment due to strike activity.
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Bloomberg