Job Growth Cools in February

Total nonfarm payroll employment rose by 151,000 in February, and the unemployment rate changed little at 4.1 percent, according to the latest figures from U.S. Bureau of Labor Statistics. Jobs trended up within such major employment sectors health care, financial activities, transportation and warehousing, and social assistance, while the federal government’s numbers began to show the impact of the Trump administration’s efforts to pare Uncle’s Sam’s workforce, dropping by 10,000.

February’s total nonfarm payroll employment increase of 151,000 in February was somewhat lower than the average monthly gain of 168,000 over the prior 12 months.

Employment in the retail trade changed little over the month (-6,000) and has shown little net change over the year. With that sector, employment in food and beverage retailers declined by 15,000, largely due to strike activity while payrolls at warehouse clubs, supercenters and other general merchandise retailers grew by 10,000 jobs.

Many analysts said it’s hard to predict what’s coming next for the economy based on the February numbers. “[This] data was mixed at best, but we still have no clarity on the economy moving forward with the Trump turmoil,” Byron Anderson, Head of Fixed Income at Laffer Tengler Investments told CNBC.