A new jobs report set for release on Friday will provide insight into the U.S. economy’s performance during the first full month of President Donald Trump’s term. Economists predict that 170,000 jobs were added in February, slightly higher than January’s 143,000 and close to last year’s monthly average. The unemployment rate is anticipated to remain at 4%, a historically low level. The report comes amid stock market turbulence and trade tensions following recent tariffs imposed by the Trump administration. Despite some tariff rollbacks, markets have continued to react negatively, with the Dow Jones Industrial Average, S&P 500, and Nasdaq all experiencing significant declines. The administration’s economic agenda includes spending cuts and actions against diversity initiatives, alongside federal workforce reductions, though these layoffs are unlikely to appear in the February data due to survey timing. Meanwhile, inflation has resurfaced, with consumer prices rising 3% in January compared to the Federal Reserve’s 2% target. Egg prices, driven by bird flu, surged 53% year-over-year. Consumer confidence saw its largest monthly drop since August 2021, with growing concerns about a potential recession, job market deterioration, and rising interest rates. However, some positive trends emerged, including improved assessments of current business conditions and increased home purchasing plans. — news from ABC News
