US jobs data revisions boost summer rate cut expectations

December and January downgrades

The US added 275,000 jobs in February, as January and December’s figures were downgraded, according to data from the US Bureau of Labor Statistics.

While February's data beat the forecast 200,000, the "higher than expected" January figure, which was initially reported as 353,000, has now been revised down to 229,000, while December's 333,000 was reduced to 290,000, based on additional reports received from businesses and government agencies. US far exceeds forecasts with 353,000 jobs added in January Additionally, the unemployment rate rose by 0.2 percentage points to 3.9% in February, as the number of unemployed people increased by 334,000 to 6.5 million. Nathaniel Casey, investment strategist at Evelyn Partners, said today's...