Overview
- Economists had expected job gains of roughly 55,000, turning the monthly decline into a surprise.
- The Labor Department attributed part of the weakness to walkouts by healthcare workers.
- Fresh revisions show last year’s hiring was far weaker than first reported, averaging about 15,000 jobs per month instead of 49,000.
- Average hourly earnings rose 0.4% from January, topping forecasts and complicating the signal from softer hiring.
- Analysts noted additional weakness in manufacturing and government payrolls beyond the strike effects.