US Non-Farm Payrolls Drop by 92K in Feb, Unemployment Rises to 4.4% Amid Stagflation Fears

Published: Mar 7, 2026 23:51

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The seasonally adjusted data released by the US in February showed that nonfarm payroll employment fell by 92,000, marking the second time since 2020 that employment posted a negative monthly change. The market had previously expected an increase of 59,000, while the prior reading was revised from an increase of 130,000 to an increase of 126,000. Meanwhile, the US unemployment rate in February was 4.4%, slightly above the market expectation of 4.3% and also higher than the prior reading of 4.3%. In addition, the YoY increase in average hourly earnings rose to 3.8%, indicating that labor cost pressure remained in place.

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