Story perspectives

U.S. Job Growth Plummets Amid Economic Uncertainty

3/5/2025

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Summary

Story summary

U.S. private-sector job growth fell to 77,000 in February, down from 186,000 in January, signaling potential economic slowdown.
ADP's chief economist cites policy uncertainty and reduced consumer spending as reasons for hiring hesitancy.
Job losses were notable in trade, transportation, utilities, education, and health services, while leisure and hospitality experienced growth.
Pay growth held steady at 4.7%, but consumer confidence is waning due to rising inflation expectations.
The upcoming official jobs report is projected to show a net gain of approximately 160,000 jobs.

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Story summary

U.S. private-sector job growth fell to 77,000 in February, down from 186,000 in January, signaling potential economic slowdown.
ADP's chief economist cites policy uncertainty and reduced consumer spending as reasons for hiring hesitancy.
Job losses were notable in trade, transportation, utilities, education, and health services, while leisure and hospitality experienced growth.
Pay growth held steady at 4.7%, but consumer confidence is waning due to rising inflation expectations.
The upcoming official jobs report is projected to show a net gain of approximately 160,000 jobs.