SPXV - February Jobs Report: A Confusing Picture
2024-03-08 20:30:00 ET
Summary
- While the February jobs report delivered another very strong payrolls number, the broader details of the report painted a confusing picture of the labor market.
- Although jobs growth was stronger than expected in February, there was a meaningful downward revision to the January jobs number, plus a jump in the unemployment rate.
- Monthly average hourly earnings growth was weaker than expected, but the annual figure remains elevated.
By Seema Shah, Chief Global Strategist
While the February jobs report delivered another very strong payrolls number, the broader details of the report painted a confusing picture of the labor market....
February Jobs Report: A Confusing Picture