"Weakness in capex and exports, much of it tied to knock-on effects from the tariffs and trade-war confusion generally, are likely behind the slowdown in hiring by the manufacturing sector", said Steve Blitz, chief USA economist at TS Lombard in NY.
Employers added just 20,000 jobs, down from a blockbuster 311,000 in January. Those factors have led many economists to forecast weaker growth in the first three months of this year. That's a noticeable pickup from January's year-over-year gain of 3.1 percent.
The labor department reported in December that CT had recovered 93.5 percent of the 119,100 jobs lost during the Great Recession from March 2008 to February 2010. It will be harder than usual, though, to get a precise read on the economy because many data reports are still delayed by the partial shutdown of the government, which ended January 25.
Some experts fear the USA economy may suffer due to the prolonged trade conflict with China, and the lackluster performance of other global markets. In January 2019, New York's statewide unemployment rate was unchanged at 3.9% and the state's private sector job count grew by 10,900.
"At 3.4 per cent year-over-year, wage gains hit their highest mark since April 2009".
"The unemployment rate declined to 3.8% resulting in a year-long streak at or below 4.0%".
Goldman Sachs economist Jan Hatzius also expects February's report to show that the labor market cooled substantially. He called the February jobs number "slightly worrisome". "I think the big news, really, was that wages went up".
December's jobs numbers reflected growth at 222,000 jobs. With these revisions, temporary help employment growth was lower than previously reported by 6,900 jobs. Leisure and hospitality employers added no jobs, after increasing their payrolls by 410,000 over the past year. All this is a way of saying that the job gains of the past several months have largely defied prediction. Manufacturing added just 4,000 jobs - far fewer than the 21,000 in January.
MA added 11,400 jobs in January as the unemployment rate held steady at 3.1 for the fourth consecutive month, according to figures released Friday by the state's Executive Office of Labor and Workforce Development.
"This month's jobs report highlights the importance of focusing on workforce investment that builds the skills needed to fill the record amount of open jobs", Acosta said.