US Job Market Stumbles in February
This contraction follows a revised January increase of 126,000 jobs. Economists had anticipated nonfarm payrolls would expand by 58,000 last month.
"Employment in health care decreased, reflecting strike activity. Employment in information and federal government continued to trend down," the department reported.
At the same time, the unemployment rate inched up to 4.4% in February from 4.3% in January, surpassing expectations.
The count of unemployed individuals "changed little" at 7.6 million in February, while the labor force participation rate held at 62%.
Similarly, the employment-to-population ratio remained steady at 59.3% for the same month, according to the Labor Department.
Health care jobs declined by 28,000 following a robust January gain of 77,000, with physician offices losing 37,000 roles largely due to strike activity.
Jobs in the information industry continued their downward trajectory, falling by 11,000 and averaging monthly losses of 5,000 over the past year.
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