The US economy unexpectedly shed 92,000 jobs in February 2026, significantly missing economist expectations of a 55,000 gain. This sharp decline, alongside downward revisions to January data, pushed the unemployment rate up to 4.4%. Meanwhile, average hourly wages grew by 0.4% month-over-month and 3.8% year-over-year, presenting a nuanced picture for inflation despite the cooling labor market. These figures have solidified expectations for Federal Reserve FED rate cuts during the first half of 2026. Despite the dovish policy outlook, Bitcoin BTC remained under pressure due to recession fears, while Gold XAU/USD gained as a safe haven against a weakening USD and SPY index. Investors are now recalibrating the economic outlook as US10Y Treasury yields react to the weakest employment report in years.
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