Non-Farm Payrolls Surprised To The Upside In February

As I expected non-farm payrolls came out yesterday at -36.000 for February vs. -50.000 consensus and a revised -26.000 figure for January. Unemployment rate was unchanged at 9.7% vs. 9.8% consensus.

We could say that the job losses for U.S. economy are approaching its end.

Chart 1. Unemployment Rate & Non-Farm Payrolls Change

Source: BLS

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