U.S. cut 92,000 jobs in ‘dismal’ February report, unemployment 4.4%

The U.S. economy lost 92,000 jobs in February, a significant cut after January saw a better-than-expected report, according to the Bureau of Labor Statistics.

The unemployment rate remained steady at 4.4%. The rate only marginally increased from its 4.3% rate in January. Interestingly, health care employment decreased in February, reflecting a rare instance that the BLS attributed to strike activity. Over the past several weeks in California, thousands of nurses went on strike to protest pay, working conditions and staffing.

Additionally, a nurses strike in New York City may have had additional effects on the health care sector, which typically drives most job growth in the report. Overall, the health-care sector lost 28,000 in February after adding 77,000 in January.

Over the past 12 months, the health care industry has added roughly 36,000 jobs per month.

Employment in the information and federal government sectors trended down in February as well. Jobs in the informati...