In February, the U.S. unemployment rate edged up to 4.4 %, according to a release by the Department of Labor on Friday in Washington. The previous month, it had stood at 4.3 %. The number of people unemployed rose from 7.4 million to 7.6 million during the same period.
Companies in the United States eliminated roughly 92,000 jobs outside agriculture in February, the department said. The cuts were most pronounced in healthcare and federal government agencies. Long‑term unemployment climbed to 1.9 million, up from 1.8 million in January.
Global investors scrutinize U.S. labor‑market data with intense focus. A strong job market combined with persistent inflation tends to make interest‑rate cuts less likely. Such a scenario would be welcomed by traders, as it would make savings accounts less competitive relative to equities and would lower borrowing costs for businesses and other borrowers.