Surprise Drop in US Payrolls Casts Doubt on Steadying Job Market

Surprise Drop in US Payrolls Casts Doubt on Steadying Job Market

US employers unexpectedly cut jobs in February and the unemployment rate rose, pointing to lingering fragility in a labor market that was thought to be stabilizing. Nonfarm payrolls fell 92,000 last month, one of the largest declines since the pandemic, after a strong start to the year. While some of the downside was expected in advance, like a temporary dent from striking healthcare workers and a potential hit from bad weather, a wide array of industries cut jobs in the month. The figures call...

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