US employers unexpectedly cut jobs in February and the unemployment rate rose, raising doubts about the health of the labor market. Nonfarm payrolls decreased 92,000 last month after a strong start to the year, according to Bureau of Labor Statistics data out Friday. The unemployment rate climbed to 4.4%. The decline in payrolls partly reflected a decrease in health care employment due to strike activity.
Bloomberg Surveillance broke the numbers and got instant reaction from:
- Claudia Sahm, Chief Economist at New Century Advisors
- Nadia Lovell, Head of Global Equity Strategy at UBS Global Wealth Management
- Jennifer Lee, Senior Economist at BMO Capital Markets
See omnystudio.com/listener for privacy information.
