The U.S. economy added jobs at a slower pace than expected in February, giving the Federal Reserve more labor market data to consider as it prepares to meet later this month.
The Labor Department on Friday reported that employers added 151,000 jobs in February, below the estimate of 160,000 jobs made by LSEG economists.
The unemployment rate was 4.1%, slightly higher than economists’ expectations it would remain at 4%.
The number of jobs added in the prior two months were both revised, with job creation in December revised up by 16,000 from a gain of 307,000 to 323,000; while January was revised down by 18,000 from a gain of 143,000 to 125,000. Taken together, the revisions reduce previously reported employment by 2,000 jobs.
Private sector payrolls added 140,000 jobs in February, slightly lower than the 142,000 estimated by LSEG economists.
Federal government employment declined by 10,000 jobs in February amid cuts by the Department of Government Efficiency (DOGE) led by Elon Musk.
This is a developing story. Please check back for updates.
