February Payrolls Come In Hot At 311K – Record 10th Beat In A Row – But Unemployment Rate Unexpectedly Rises

If the already jittery market needed another reason to be very confused today, it got it moments ago when the BLS reported February jobs data and which -on one hand – came in hotter than expected at the headline level, with some 311K jobs reportedly created in February, which while was a drop from last month’s downward revised 504K, was well above the 225K consensus and was also above the whisper number of 250K.