U.S. Economy Loses 92,000 Jobs as Gas Prices Climb

The U.S. economy unexpectedly lost 92,000 jobs in February, according to new data from the U.S. Department of Labor. Economists had expected job growth, but the unemployment rate instead rose to 4.4%.

Several sectors saw declines, including health care, leisure and hospitality, manufacturing, and construction. Some of the health care losses were tied to a nurses’ strike in California and Hawaii.

At the same time, rising crude oil prices are pushing gas prices higher, adding pressure on businesses and consumers.

Economists warn the stalled labor market and higher fuel costs could increase concerns about consumer spending, a key driver of the U.S. economy.