US Job Market Loses 92K Jobs in February
Anchorage News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Februarys Job Report: A Disappointing Start to the Year - The U.S. job market took a hit in February, with employers cutting ninety-two thousand jobs, according to the latest Labor Department report. The unemployment rate ticked up to four point four percent, and earlier revisions showed net losses in December and January. Losses were widespread across sectors, including healthcare, which shed twenty-eight thousand positions due to a nurses strike. This downturn dashes earlier optimism and may prompt the Federal Reserve to reconsider interest rate cuts. However, average wages rose three point eight percent from a year earlier, providing some relief to those still employed.
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