The U.S. economy lost jobs in February, marking a major reversal of fortunes for the labor market and nearly erasing all of the job gains delivered a month earlier, government data on Friday showed. The reading came in well below economists' expectations. The U.S. lost 92,000 jobs in February, according to the report, which marked a significant dropoff from 130,000 jobs added in the previous month. The unemployment rate ticked up from 4.3% in January to 4.4% in February, the U.S. Bureau of Labor Statistics (BLS) said. Unemployment remains low by historical standards. The new jobs report arrived as markets roil and gasoline prices surge in response to the war with Iran. The Middle East conflict cast fresh uncertainty over the economic outlook.
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