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White House Calls February Jobs Loss 'Outlier' Due to Weather

Bloomberg Markets •
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White House National Economic Council Director Kevin Hassett dismissed the February jobs report as an anomaly, attributing the surprising decline to severe weather conditions. The report showed nonfarm payrolls falling by 92,000, marking a significant departure from recent employment trends.

Hassett's characterization of the data as an 'outlier' comes as the administration seeks to reassure markets and workers about the labor market's underlying strength. The sudden drop in employment figures stands in stark contrast to the steady job growth that has characterized much of the current economic cycle.

While Hassett emphasized weather as the primary factor behind the weak numbers, economists will be watching closely to see if March's data confirms his assessment. The jobs report remains one of the most closely watched economic indicators, with implications for Federal Reserve policy and consumer confidence.