The February jobs report exceeded expectations, adding 275,000 jobs to the US economy despite an uptick in unemployment. Wells Fargo Investment Institute Strategy Analyst Veronica Wills joins Yahoo Finance Live to discuss the softening trends within the markets.
Willis notes that the jobs report showcased a robust job market, although there were “still signs of some softness there.” She highlights that all revisions “were still pretty good,” and despite the increase in unemployment, the numbers were “not concerning.”
However, Willis points out that the markets have not paid close enough attention to Purchasing Managers’ Index (PMI) data. She notes weakness within the manufacturing sector, though the market continues “shrugging it off,” focusing instead on inflation and labor market data amid possible rate cuts.
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Editor’s note: This article was written by Angel Smith
