What to expect from the February jobs report
January’s jobs report delivered a heck of a surprise when it showed the US economy had added more than half a million jobs and unemployment had dipped to a level not seen in more than five decades. But economists say they are not bracing for another blindside when the February jobs report comes out on Friday morning. Consensus estimates are for job gains to weigh in at a 205,000, according to Refinitiv. They’re also expecting the unemployment to remain at 3.4%, a 54-year low.
Unseasonably warm weather also likely played a role and could very well lead to a balmier-than-expected February jobs report, said Joe Brusuelas, chief economist at RSM, in a note this week. RSM is projecting a net change in total employment of 310,000 and unemployment to drop further to 3.3%.
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