US Economy Adds Fewer Jobs Than Expected âšī¸
The US economy added 151K jobs in February 2025, up from a revised 125K in January, with gains in healthcare, financial activities, and transportation, but declines in federal government, retail trade, and other sectors.
The overall job growth is slightly below expectations, with mixed performance across sectors. This is a neutral development for the portfolio, which has exposure to the broader US and global markets, as well as some specific sectors like technology and retail.
US Job Growth to Remain Strong in February đ
The US economy is expected to add 160K jobs in February 2025, with the unemployment rate remaining steady at 4% and wages rising 0.3% month-over-month, slowing from January's 0.5% increase. The report is expected to confirm the labor market's resilience, though federal spending cuts and tariffs are expected to weigh on the labor market in the coming months.
The positive jobs report is generally beneficial for the portfolio, which has significant exposure to the US and global equity markets. However, the potential impact of federal spending cuts and tariffs on the labor market in the coming months could be a concern.