Daily Roundup of Key US Economic Data for March 6

03:09 PM EST, 03/06/2026 (MT Newswires) -- The February employment report was weak amidst strikes and harsh winter weather, with payrolls down, the unemployment rate higher, and hourly earnings growth in line with the previous month.

Nonfarm payrolls fell by 92,000 in February after a 126,000 gain in January and a 17,000 drop in December, both revised lower from their previous estimates. Private payrolls fell by 86,000, also well below expectations and following a 146,000 gain in January.

Leisure and hospitality jobs fell by 27,000 in February while health care and social assistance jobs declined by 18,600.

The unemployment rate rose to 4.4% from 4.3% in January, with the details showing a deterioration. The labor force rose by 18,000 as labor force participation declined. Household employment fell by 185,000 while the number of unemployed rose by 203,000.

Average hourly earnings were up 0.4% in February for a second straight month, lifting the year-over-year rate to 3.8% from 3.7%.

Retail sales fell by 0.2% in January and were flat excluding a 0.9% drop in auto sales.

A 2.9% drop in gasoline station sales, a 1.7% drop in clothing sales and a 3.0% decline in health and personal care sales were key factors, offset by a 0.6% increase in building material sales.

Control group retail sales, which exclude motor vehicles, gas, building materials, and food services, rose by 0.4% after a flat reading in December.

Business inventories rose by 0.1% in December, as expected, following a flat reading in November. Business sales rose by 0.5%, with gains at the factory and wholesale levels and a flat reading at the retail level.

Consumer credit usage rose by $8.1 billion in January after a $25.2 billion gain in December, with revolving credit use and nonrevolving credit use both rising at slower rates.

The Q1 GDPnow estimate from the Atlanta Fed is for a 2.1% gain, down from a 3% increase in the previous estimate. The next update is scheduled for March 12.

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