Guy LeBas cites payrolls contraction of 92,000 below forecasts

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06.03.2026

Guy LeBas cites payrolls contraction of 92,000 below forecasts — Payrolls miss forecasts contract 92,000

U.S. payrolls contracted by 92,000, falling well short of consensus forecasts that anticipated a 55,000 gain.

Guy LeBas pointed out that job gains for prior months were revised down by 69,000, with most of the adjustment in December. He also noted that January and February payroll figures typically see significant changes due to weather and business closures, making this report particularly complex.

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The latest contraction in U.S. payrolls adds to recent concerns over labor market fragility, reminiscent of periods marked by the highest job cuts since 2009 amid broader economic uncertainty. As adjustments and volatility persist, the muted pace of GDP growth at 1.4 percent further amplifies questions about the strength of the recovery, even as consumer spending demonstrates underlying resilience.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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