TechFlow news — On March 7, according to Jinshi News, the first nonfarm payrolls report during Trump's term was released. U.S. employment growth accelerated in February, while the unemployment rate edged up to 4.1%. However, rising uncertainty over trade policy and significant federal government layoffs could weaken labor market resilience in the coming months. The U.S. Bureau of Labor Statistics reported Friday that nonfarm payrolls increased by 151,000 in February, following a downwardly revised gain of 125,000 jobs in January.
Economists say the erratic trade policies of the Trump administration have made it difficult for businesses to plan ahead. Business and consumer confidence have plummeted since January, erasing all gains achieved after Trump won the election in November last year, while stock markets have also faced sell-offs. Sporadic government funding freezes have led some contractors and employees relying on federal grants to lose their jobs. As recent job gains have been concentrated largely in low-wage sectors such as leisure and hospitality, this may deepen what some economists describe as a white-collar recession. For now, the labor market continues to support the economy, which is expanding—albeit at a very slow pace.
