February 29, 2024

– Economists expected 1 million new jobs created
– 266,000 actual jobs added
– Biggest miss of expections on record
– Unemployment went up to 6.1% from 6.0%
– March revised down to 770,000 from 916,000 jobs
– Total jobs down 8.2 million jobs versus February last year
– Average hourly earnings jumped 21 cents to $30.17 last month
– 4.8% rise in leisure and hospitality average hourly earnings
– “The disappointing jobs report makes it clear that paying people not to work is dampening what should be a stronger jobs market,” U.S. Chamber of Commerce
– $300 benefit results in approximately one in four recipients taking home more in unemployment than they earned working.


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What Caused the Biggest Jobs Miss on Record?
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US Chamber of Commerce calls for ending extra unemployment benefits after disappointing jobs report
29% of unemployed Americans have been jobless over a year