The February employment report had a little something for everybody. The economy created 275,000 jobs in February, significantly outperforming expectations of 200,000. But that's where the glory ended:
- January and December job gains were revised down substantially, with total revisions down 167,000. The unemployment rate rose sharply from 3.7% to 3.9%, the highest in over two years.
- The aforementioned 275,000 job gain was from the "establishment" part of the report, but the "household" part showed a loss of -184,000 jobs.
- Inflation continues to be stubborn, as items in the Consumer Price Index are starting to go back up.
The Fed might cut rates at some point this year, with financial markets predicting that the first cut will come in June, but given that most inflation measures were on the hot side in January, and there are still sources of stubborn underlying inflation, it could be later than that.
To read Dan's full report, click on the link below and download the PDF
Wheel of Risk Podcast
America’s premier podcast about the risk and reward of doing business in uncertain economic times is back! Welcome to season two of Wheel of Risk, proudly presented by Allianz Trade.
Over the course of eight episodes, host Alix McCabe and her team of experts are set to explore a whole new series of timely and relevant topics, from bank failures and rising interest rates to the threat of zombie firms and the cyclical nature of recession and recovery. They’ll also tackle some common myths and misconceptions about trade credit insurance, and bring you expert advice and actionable insights designed to help you keep your business safe, secure, and profitable — even in challenging times.
Listen to season two of Wheel of Risk, now streaming on all the major podcast platforms.