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Weather and strikes weigh on February US jobs
US non-Farm payrolls FELL 92k in February versus the +55k consensus and there were a net 69k downward revisions to the previous two months (January 2026 and December 2025). The unemployment rate has risen to 4.4% from 4.3% while January retail sales fell 0.2% month-on-month versus the 0.3% drop that was expected. This is clearly not a good set of numbers, but the weather almost certainly played a significant role here. The week the data for January was collected was relatively warm in what was a very cold month and that helped boost construction numbers as sites remained open (+48k). In contrast, February was filled ... (full story)
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