February Employment Situation (NFP): -92K jobs vs 56K jobs expected (below expectations)
DISASTER — Economy lost 92,000 jobs (vs +56K expected). Unemployment jumped to 4.4%. January revised down to +126K. Worst jobs print since the pandemic era.
📊 Results
Actual Reading
Market Reaction
💡 Key Takeaway
Shockingly negative. Government layoffs (DOGE cuts) + tariff uncertainty crushing hiring. Combined with hot inflation data = full stagflation alarm. Rate cut odds whipsawed — bad for stocks but potentially good for bonds.
📖 Why This Matters
The Employment Situation report, commonly known as the Jobs Report or NFP (Non-Farm Payrolls), provides crucial insights into the health of the U.S. labor market. Released monthly by the Bureau of Labor Statistics, it includes non-farm payroll changes, unemployment rate, and wage growth data. This data is vital for Federal Reserve policy decisions, as employment is one half of the Fed's dual mandate alongside price stability.
February Employment Situation (NFP) actual vs expected
| Release date | Friday, March 6, 2026 at 08:30 ET |
|---|---|
| Event type | Jobs |
| Actual | -92K jobs |
| Expected | 56K jobs |
| Prior | 126K jobs |
| Expectation surprise | below expectations |
📚 Related calendar tools and guides
How to Read the Fed Dot Plot
Connect inflation, jobs, and growth data to the Fed policy path.
Economic Calendar
Track upcoming CPI, PPI, jobs, GDP, Fed, and major earnings events.
Calendar History
Review actual vs expected results and market reactions from past events.
Market Pulse
See how equities, crypto, rates, commodities, and risk assets are reacting now.
FAQ
What was the February Employment Situation (NFP) result?
February Employment Situation (NFP) came in at -92K jobs versus 56K jobs expected, below expectations.
How did markets react to February Employment Situation (NFP)?
SPY -2.1%, NASDAQ -2.8%, BTC -5.3%. Oil spiked on Iran tensions same day. Fear & Greed hit 12 (Extreme Fear). 10Y yield crashed to 4.05%.
🔗 Related Events
March Employment Situation (NFP)
Payrolls rebounded by 178K in March after February's shock decline, beating the 70K consensus. Unemployment dipped to 4.3% from 4.4%, while average hourly earnings growth cooled enough to keep the report from looking too inflationary. The report still showed a labor market losing some depth under the hood.
April Employment Situation (NFP)
Payrolls rose 115K in April, beating roughly 65K expected, while unemployment held at 4.3%. Wage growth cooled to 0.2% MoM and 3.6% YoY, making it a resilient-but-not-too-hot labor report.
FOMC Rate Decision
Rates held at 4.25-4.50%. Powell stayed hawkish, markets shrugged.
Coinbase (COIN) Q4
Beat estimates. Revenue $2.3B vs $1.9B expected. Crypto rally lifted trading volumes.
January CPI
2.4% vs 2.5% expected — lowest since May. Core at 2.5%, lowest since March 2021. June rate cut odds jumped to 70%.