economy

March 6, 2026

U.S. Payrolls Unexpectedly Fell by 92,000 in February; Unemployment Rate Rises to 4.4%

Nonfarm payrolls were expected to increase 50,000 in February while the unemployment rate held steady at 4.3%.

U.S. Payrolls Unexpectedly Fell by 92,000 in February; Unemployment Rate Rises to 4.4%

TL;DR

  • Nonfarm payrolls decreased by 92,000 in February, contrasting with an expected increase of 50,000.
  • The unemployment rate edged up to 4.4%.
  • A strike at Kaiser Permanente significantly impacted health care sector job numbers.
  • Average hourly earnings increased by 0.4% for the month and 3.8% from a year ago.
  • Sectors experiencing job losses include health care, information services, manufacturing, federal government, and construction.
  • Long-term unemployment increased, with the average duration reaching 25.7 weeks.
  • Economists and Federal Reserve officials expressed caution due to the weak jobs report, inflation, and rising oil prices.
  • Market expectations shifted towards earlier interest rate cuts by the Federal Reserve.
  • The household survey showed a weaker economic picture with a drop in those employed and a rise in unemployment.
  • Labor force participation rate fell to 62%, its lowest since December 2021.

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