US job market continued to expand steadily during Feb by creating 151,000 new jobs, the Bureau of Labour Statistics informed in a report published on Friday. The employment figure fell slightly short of economists’ projection of 160,000.
The statistics also indicated that the unemployment level rose to 4.1 percent from 4 per cent last month.
In spite of fears about federal job reduction, especially with the cuts within the Department of Government Efficiency (DOGE), economists believe that the labour market is still holding strong. The cuts with DOGE had resulted in the loss of 10,000 government positions.
Economists call it ‘Goldilocks’ outcome
RSM Chief Economist Joe Brusuelas told Yahoo Finance that the Bureau of Labour Statistics report is a ‘Goldilocks’ outcome. It, he said, is neither too strong nor too weak. He further stated that it is understood that within the next three to six months, the United States will see some of the disruptive consequences in both the economy and in the labour market.
Brusuelas, has however, said that in the meantime, the report indicates that the US actually has to add around 100,000 to 150,000 jobs per month in order to maintain employment flat, which is what happened last month.