U.S. jobs report: February payrolls drop 92,000 amid slowdown

Suomi

The Bureau of Labor Statistics' February 2026 employment report revealed a 92,000 decline in nonfarm payrolls—the second-worst monthly drop in three years—reversing January's revised 126,000 gain and extending the slowdown from December's 50,000 increase. Released March 7, the data showed unemployment rising 0.1 percentage point in a low-hiring, low-firing labor market.

This downturn heightens uncertainty in the economic and policy landscape, contrasting with recent recovery signals and complicating labor market assessments. The report underscores persistent employment challenges despite some stability.

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South Korea added 234,000 jobs in February, marking the fastest on-year growth in five months, though youth employment slumped and construction losses persisted. Youth unemployment for ages 15-29 reached 7.7 percent, the highest for any February since 2021. The total number of employed people rose 0.8 percent to 28.41 million, per Ministry of Economy and Finance data.

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Employers in the United States added 178,000 jobs in March, far exceeding economist expectations of 59,000, while the unemployment rate fell to 4.3 percent. This rebound followed a weak February, when payrolls dropped by 133,000. The White House highlighted the strong figures on social media.

Monthly US jobs reports diverge but long-term trends align

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Monthly employment data from the Bureau of Labor Statistics and ADP often show differences in their figures, yet they follow the same direction over extended periods. This alignment provides a reliable view of the US labor market despite short-term variations. Jobs information is key to understanding consumer spending, which drives about two-thirds of the US economy.

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The Philippines' unemployment rate surged to 5.8% in January 2026—the highest since June 2022—up sharply from December 2025's 4.4%, according to the Philippine Statistics Authority. This affected 2.96 million unemployed Filipinos, with agriculture losing 1.42 million jobs due to weather disturbances.

Private estimates predict economic rebound in March after February drop

After a 2.6% drop in economic activity in February, according to INDEC, private consultancies estimate a March recovery driven by agriculture. Equilibra forecasts a 1.5% year-on-year rise and 1% monthly desesasonalized. The first quarter would end with 0.4% growth versus 2025.

Mexico's employed population grows by 422,000 in one year

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The National Survey of Occupation and Employment (ENOE) reported that in March 2026, the employed population reached 60.2 million people, up 422,000 from a year earlier. The unemployment rate fell to 2.4 percent and underemployment to 6.7 percent, though labor informality held steady at 54.8 percent.

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