This month’s jobs report came in a mixed bag of good and bad news. With the first full month of the second Trump administration under the country’s belt, one might think that things would be settling into the new normal. However, with the ongoing threat of tariffs (with some moving forward while others are placed on hold) on China, Mexico, and Canada, things are far from normal. Along with the ongoing avian flu crisis disrupting the price of America’s eggs, everyone from Wall Street to the Main Street supermarket is concerned about the economy. The report itself had fewer jobs added than expected, but it is coupled with terrible news, such as the sudden increase in unemployment.
With an additional 151,000 jobs added in February, this morning, the Dow opened with their first positive gains in several days. Due to the ongoing worry about tariffs, this week the stock market has struggled to maintain any forward momentum. Unemployment rose to 4.1%, with many experts pointing to DOGE’s firing of as many as 10,000 as being to blame. While job growth could be seen to be slowing, there were no other changes to the January report. The number of jobs in the Transportation and Warehouse industries finally began to trend upward in February. As usual, we’ll have more on that sector further down!
January's Job Opening and Turnover Survey
In January, the Job Opening and Turnover Survey shows no changes. In fact, the government run report has been reported as updated, but it is still listing December’s numbers. The LZBlog will be diving into this issue and will be reporting back as soon as possible.
February's Jobs Report
For the month of February, Non-farm payrolls grew by a smaller than expected, with only 151,000 added last month. While many economic experts expected to see 165,000 new jobs, concerns over tariffs and the economy are seen as stalling the numbers. Since the tariffs seem to be stuck in a revolving door of “will they or won’t they be initiated,” the economy is struggling with how to handle the confusion. February’s report shows unemployment rate rose to 4.1%. The labor force participation rate for January fell slightly to 62.4%.
Last month, the Healthcare industry, which has been steadily adding small numbers of jobs every month for the past year, added another 52,000 jobs. In Government, due to DOGE’s cuts, there was a decline of federal jobs by 10,000. While the changes look as if they are slowly taking effect, layoffs are promised to continue in nearly every department at the federal level. Financial activities employment went up by a surprising 21,000 jobs in February, their highest gains in over a year. Real estate jobs went up by 10,000, and Insurance jobs increased by 5,000. Transportation and Warehousing industries leapt forward by 18,000 jobs. While they have not made any large gains in almost a year, they have made incremental additions up until February, surprising the industry with the 18,000 jobs created.
Conclusion
The February Jobs Report came out today with numbers that lower than expected numbers, and the January Survey didn’t seem to come out at all. With the loss of many jobs in the federal government, perhaps the survey was lost in the maelstrom? We will continue to look into this mix-up. As for February, job creation continued, but unemployment also rose. While this trend looks to continue into March, we will also continue to follow it! Stay tuned to the LZ Blog and our Lionzone social media to follow the job market!
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Meaghan Goldberg covers recruitment and digital marketing for Lionzone. A Patterson, GA native, after graduating from both Valdosta State University and Middle Tennessee State University, Meaghan joined Lionzone in 2018 as a digital recruitment strategist before becoming the social media manager.
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