US jobs report: 92,000 jobs cut in February, says BLS; unemployment rate climbs to 4.4%

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US employers unexpectedly cut hiring in February, with nonfarm payrolls dropping by 92,000 and the unemployment rate rising to 4.4%. This decline was reportedly influenced by reduced health care employment due to strike activity, raising concerns about labor market strength.

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US employers unexpectedly reduced hiring in February, and the unemployment rate increased, fueling concerns about the labor market’s strength, according to Bloomberg.

According to data released Friday by the Bureau of Labor Statistics (BLS), nonfarm payrolls fell by 92,000 last month following a strong start to the year. The unemployment rate rose to 4.4%. The drop in payrolls was partly driven by a decline in health care employment amid strike activity.

(This is a developing story. More to come)

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Garvit Bhirani

Garvit Bhirani is a journalist based in Gurugram. He is a Deputy Chief Content Producer at LiveMint, where he covers national and international news s...Read More

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