The first non-farm report during Trump's tenure showed that US job growth accelerated in February and the unemployment rate rose slightly to 4.1%, but increased uncertainty in trade policy and large-scale layoffs in the US federal government may weaken the resilience of the labor market in the coming months. . .
The seasonally adjusted non-farm payrolls in the United States increased by 151,000 in February, missing expectations of 160,000. The number of new non-agricultural jobs in December was revised from 307,000 to 323,000; the number of new non-agricultural jobs in January was revised from 143,000 to 125,000.
After the revision, the total number of new jobs in December and January was 2,000 lower than before the revision.
In addition, the U.S. unemployment rate recorded 4.1% in February, higher than the expected 4% and the highest since November 2024. The annual average hourly wage rate in the United States in February was 4%, lower than the expected 4.1%. The previous value was revised down to 3.9% from 4.10%. The monthly rate was 0.3%, in line with expectations. The previous value was revised down from 0.5% to 0.4%.
After the release of non-agricultural data, spot gold continued to rise, with short-term gains expanding to nearly $15 and now trading at $2,922.94 per ounce. The U.S. dollar index fell more than 20 points in the short term and then rebounded. Non-U.S. currencies rose. The euro rose nearly 30 points against the U.S. dollar in the short term, the pound rose nearly 40 points against the U.S. dollar in the short term, the U.S. dollar fell more than 20 points against the Canadian dollar in the short term, and the U.S. dollar fell more than 40 points against the Japanese yen in the short term.
US short-term interest rate futures fell. Traders in U.S. interest rate futures are now betting that the Fed will wait until June before starting to cut rates again, but still expect the Fed to cut rates by about 75 basis points this year.
The US Bureau of Labor Statistics said that employment in health care, financial activities, transportation and warehousing, and social assistance is on the rise. Federal government employment fell.
Analyst Anstey pointed out that the data for the previous two months was only revised down by a cumulative 2,000 people. The initial interpretation of this is, of course, that there is no sense of alarm about the sudden weakness of the broader job market, and the reduction in government employment is quite small in the overall report, only 10,000 people.
Some analysts have pointed out that because a large number of layoffs in February were conducted after the survey week of that month, the February non-farm data may be outdated, and the next report may be a better indicator of the health of the labor market.
Economists warn that the Trump administration's erratic trade policies make it difficult for companies to plan ahead. Business and consumer confidence have plummeted since January, wiping out all the growth achieved after Trump won the election last November, while the stock market has also suffered a sell-off. Intermittent government funding freezes have caused some contractors and employees who receive federal grants to lose their jobs. Because much of the recent job growth has been in low-wage industries such as leisure and hospitality, it could exacerbate what some economists call a white-collar recession.
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The seasonally adjusted non-farm payrolls in the United States increased by 151,000 in February, missing expectations of 160,000. The number of new non-agricultural jobs in December was revised from 307,000 to 323,000; the number of new non-agricultural jobs in January was revised from 143,000 to 125,000.
After the revision, the total number of new jobs in December and January was 2,000 lower than before the revision.
In addition, the U.S. unemployment rate recorded 4.1% in February, higher than the expected 4% and the highest since November 2024. The annual average hourly wage rate in the United States in February was 4%, lower than the expected 4.1%. The previous value was revised down to 3.9% from 4.10%. The monthly rate was 0.3%, in line with expectations. The previous value was revised down from 0.5% to 0.4%.
After the release of non-agricultural data, spot gold continued to rise, with short-term gains expanding to nearly $15 and now trading at $2,922.94 per ounce. The U.S. dollar index fell more than 20 points in the short term and then rebounded. Non-U.S. currencies rose. The euro rose nearly 30 points against the U.S. dollar in the short term, the pound rose nearly 40 points against the U.S. dollar in the short term, the U.S. dollar fell more than 20 points against the Canadian dollar in the short term, and the U.S. dollar fell more than 40 points against the Japanese yen in the short term.
US short-term interest rate futures fell. Traders in U.S. interest rate futures are now betting that the Fed will wait until June before starting to cut rates again, but still expect the Fed to cut rates by about 75 basis points this year.
The US Bureau of Labor Statistics said that employment in health care, financial activities, transportation and warehousing, and social assistance is on the rise. Federal government employment fell.
Analyst Anstey pointed out that the data for the previous two months was only revised down by a cumulative 2,000 people. The initial interpretation of this is, of course, that there is no sense of alarm about the sudden weakness of the broader job market, and the reduction in government employment is quite small in the overall report, only 10,000 people.
Some analysts have pointed out that because a large number of layoffs in February were conducted after the survey week of that month, the February non-farm data may be outdated, and the next report may be a better indicator of the health of the labor market.
Economists warn that the Trump administration's erratic trade policies make it difficult for companies to plan ahead. Business and consumer confidence have plummeted since January, wiping out all the growth achieved after Trump won the election last November, while the stock market has also suffered a sell-off. Intermittent government funding freezes have caused some contractors and employees who receive federal grants to lose their jobs. Because much of the recent job growth has been in low-wage industries such as leisure and hospitality, it could exacerbate what some economists call a white-collar recession.
GOLD GOLD GOLD 
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Continuously release precise trading plans to lead members to expand profits, with a stable profit of 988% every month. If you have not made a profit yet, then join us. t.me/fahsufnwks
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.