This story about the February 2026 jobs report is developing and will be updated with more details.

The U.S. economy shed jobs unexpectedly in February as employers pulled back to start 2026 amid economic uncertainty.

What are the key findings of the February 2026 jobs report?

The Labor Department on Wednesday reported that employers shed 92,000 jobs in February. That figure was well below the expectations of economists polled by LSEG, who estimated the economy would add 59,000 jobs.

The unemployment rate was 4.4%, slightly higher than economists’ expectations of 4.3%.

Revisions were made to the payroll numbers for the prior two months, with December’s report revised down by 65,000 jobs from a gain of 48,000 to a loss of 17,000, and January’s report revised down by 4,000 from a gain of 130,000 to 126,000.

Taken together, employment in December and January was 69,000 jobs lower than previously reported.

WHY DOES THE LABOR DEPARTMENT REVISE JOBS REPORTS? HERE ARE 3 REASONS

What sectors added or lost the most jobs in February 2026?

Private payrolls shed 86,000 jobs in February when economists expected a gain of 65,000 jobs for the month. January’s gain of 172,000 jobs was also revised down to 146,000.

Government payrolls contracted by 6,000 jobs in February. Job losses by the federal government (-10,000) and local governments (-1,000) were partially offset by job gains among state governments (+5,000). Federal government employment is down 330,000 jobs, or 11%, from its October 2024 peak.

The manufacturing sector lost 12,000 jobs in February, well below the expectations of LSEG economists, who predicted a gain of 3,000 jobs.

Healthcare employment declined by 28,000 jobs in February following an increase of 77,000 jobs for the sector in January. Physicians’ offices lost 37,000 jobs in February, primarily due to strike activity, while hospitals added 12,000 jobs. Over the last 12 months, healthcare averaged a gain of 36,000 jobs per month.

The information sector lost 11,000 jobs in February, continuing a downward trend after averaging a loss of 5,000 jobs in the last 12 months.

Social assistance employers added 9,000 jobs in February, driven by individual and family services (+12,000).

Transportation and warehousing employment declined by 11,000 jobs. A loss among couriers and messengers (-17,000) was partially offset by a gain in air transportation (+5,000). Employment in the sector is down 157,000 jobs, or 2.4%, from a February 2025 peak.

What does the February 2026 jobs report mean for the workforce?

How does the jobs report affect the stock market?

What does the February 2026 jobs report mean for the Fed and rate cuts?

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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EXCLUSIVE: New York and California are no longer just losing residents — they are losing an entire economic class.

As 2026 kicks off a fresh wave of “tax the rich” rhetoric in traditional financial hubs, top Florida developers tell Fox News Digital they are seeing a massive, permanent surge in capital migration. In just the last 60 days, two developers and one sales firm reported over $126 million in sales to buyers relocating from California and New York, signaling that the blue state exodus has moved from a temporary trickle to a flood of hundreds of millions of dollars.

“In our three projects… we saw over $60 million over the last 30 days, and I can tell you that in the last six months between the three projects combined, we sold over $200 million of product. We still see a lot of buyers coming from New York, California, New Jersey and Illinois. These are the main four markets,” BH Group CEO Isaac Toledano told Fox News Digital.

“We’re at roughly $50 million in Shoma Bay alone since the start of the year from New York and California buyers. What’s different now is the conviction,” Shoma Group CEO Masoud Shojaee also told Fox News Digital. “People aren’t just looking, they’re signing contracts, and that tells us this has staying power.”

FLORIDA CHAMBER C.E.O. SAYS HIGH-TAX STATES ARE IN A ‘DEATH SPIRAL’ AS $4M-AN-HOUR WEALTH MIGRATION ACCELERATES

“In just the first 60 days of 2026, we’ve already seen a significant increase in interest and activity at our condo projects. Based on this momentum, we anticipate total transactions this year will surpass 2025,” ISG World founder and CEO Craig Studnicky added, telling Fox News Digital they’ve seen $26 million in wealth migration from New York and California so far this year, up from $15 million the same time last year.

Between the three real estate companies, more than $126 million in sales has been completed from California and New York in 2026 so far. (Getty Images)

Based on these latest numbers, the three real estate tycoons agree that this isn’t just a slight uptick, but rather a compounding growth curve. And while Florida’s tax benefits have long been the hook for new residents, the catalysts for a new wave of high-net-worth individuals are the rise of socialist-leaning policies in New York and looming wealth taxes in California.

“We cannot ignore the fact that Mayor Mamdani, for the last few weeks, [has been] mentioning that they’re going to increase probably the real estate taxes and the wealth tax, and same in California,” Toledano said. “Here, everybody’s pushing that most likely we will see the real estate tax bills getting slashed… the mood here is completely different.”

“People are looking for simplicity… they wanna be confident. They wanna protect their business. They wanna have some clarity,” Shojaee added. “If there’s no predictability, if there is no trust, if there is no clarity, if there is no simplicity, the business is not gonna function. And that’s the issue that they have.”

The primary criticism of the Florida boom was that it was a pandemic anomaly. However, the 2026 data suggests this is a structural relocation of American wealth. Shojaee emphasized that when a CEO moves their home or headquarters, they aren’t coming for a vacation.

“If it was only just purchasing their real estate for the sake of purchasing real estate, yeah, I would say it could be a trend. But once you move your business and your wealth to Miami or Palm Beach or South Florida, that’s really permanent,” Shojaee said.

Studnicky backs this up with a dramatic shift in his own sales data, moving from part-time residents to full-time Floridians.

“Two-thirds of my U.S. sales before COVID were second homes,” Studnicky revealed. “That has completely [flipped]. Two-thirds are permanent residents.”

WALL STREET SOUTH EXPANSION: MANDARIN ORIENTAL ANCHORS NEW ‘BILLIONAIRE CORRIDOR’ IN WEST PALM BEACH

This influx of 24/7 business residents is forcing a fundamental redesign of Florida’s luxury landscape as developers are moving away from traditional resort amenities and toward infrastructure that supports a high-intensity professional life. For Studnicky, that means prioritizing the garage over the pool.

“When I sit with developers today… we talk about parking as much as we talk about the swimming pool,” Studnicky said. “Everyone’s coming with two cars, and they want to park their own cars… Parking’s become a big deal.”

Toledano added that the level of scrutiny from new residents has reached an all-time high as they look meticulously for environments to best suit their lifestyle.

“The buyers [in] the last few years became more sophisticated. They want to know more about the location, more about the developer, more about the architect, the interior designer, they [are] paying for product. And they want to make sure that they’re getting the best of the best,” Toledano said.

“I think that if we will continue to see a couple of big financial firms moving to Florida, this will be a serious game changer.”

– Isaac Toledano

Concerns about the “Californication” or “New York-ifying” of Florida are overplayed, as the real estate experts argue that names like Mark Zuckerberg, Larry Page and Sergey Brin aren’t coming to “recreate what they left behind.”

“I’ve been living here for 32 years, that concern is overstating,” Studnicky said. “The folks that are moving here, they’re fiscally very conservative, and they’re deeply entrepreneurial and that entrepreneurial spirit. I’ve never seen it go alive anywhere as I do here in [South Florida].”

The ISG World founder added that President Donald Trump’s presence in Palm Beach also brings influence.

“Mar-a-Lago in Palm Beach is the White House South. Donald Trump spends as much time at Mar-a-Lago as he actually does in the White House. In other words, his mere presence here is telling people… that this is a conservatively fiscal location, and it’s extremely safe.”

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As the “Wall Street South” matures, the question is no longer if Florida can compete with the traditional financial capitals of the world, but when it might surpass them. As Toledano puts it, the current boom is likely just the preamble. If the current trajectory holds, South Florida of 2030 won’t just be a refuge for high-tax state residents — it will be the new center of gravity for American capital.

“I believe this is an evolution. This is not a competition,” Shojaee added. “It’s a big possibility that happens… and we will see the wealth that is moving here and that they’d rather be here.”

READ MORE FROM FOX BUSINESS

As the 2026 World Baseball Classic unfolds across international venues, fans are quickly encountering one of the tournament’s most distinctive rules: the mercy rule, also known as the run-rule or slaughter rule. Unlike Major League Baseball, where games continue regardless of score differential, the WBC incorporates this provision to prevent excessively lopsided contests, protect pitching staffs and maintain competitive balance in early rounds.

The mercy rule applies strictly during pool play (first round) and the quarterfinals. A game ends early if one team leads by 15 or more runs after the completion of five innings or by 10 or more runs after seven innings. The threshold must be met at the end of a full inning — no mid-inning stoppages — and the trailing team must have completed the required frames. For example, if a team is ahead 15-0 after five innings, umpires call the game immediately, sparing further play.

This structure draws from international baseball norms set by the World Baseball Softball Confederation (WBSC), which has long used run-ahead rules in global competitions. The WBC adopted similar guidelines starting with its inaugural 2006 tournament, adding the 15-run threshold after five innings to address potential blowouts in a short-pool format where teams play only a few games. The rule vanishes in the semifinals and championship, ensuring full nine-inning battles for the title regardless of margin.

The 2026 edition retains these thresholds unchanged from prior tournaments like 2023. Official MLB and WBC announcements confirm games follow the 2025 Official Baseball Rules with supplements, including the mercy provision for pool and quarterfinal stages. No adjustments were made for this cycle despite discussions on pitch counts, pitch clocks (15 seconds bases empty, 18 with runners) and other tweaks to align with modern MLB pacing.

The mercy rule serves multiple purposes. In a tournament featuring mismatched talent levels — powerhouse nations like Japan, the United States, Dominican Republic and Venezuela often face emerging programs — it prevents humiliation while conserving arms for later matchups. Pitcher usage limits (e.g., rest requirements after high-pitch outings) amplify the need to avoid drawn-out routs. It also ties into tiebreaker scenarios: run differential factors heavily when teams finish with identical records, so avoiding unnecessary runs can preserve standings positions.

Critics argue the rule detracts from prestige, especially when star-studded lineups face off. Yet supporters note it mirrors youth and amateur levels (e.g., Little League’s similar thresholds) and protects players in a high-stakes event where injuries or fatigue could impact club seasons. Past WBCs saw the rule invoked sparingly — often in mismatches involving qualifiers — but its presence adds strategic layers: teams may push early leads aggressively knowing mercy could shorten games.

As the 2026 tournament progresses (with pool play underway and high-scoring early games prompting discussions), the mercy rule remains a key differentiator from MLB’s no-run-limit approach. Fans tracking games should watch for blowout alerts, as umpires enforce it promptly once criteria are met post-inning.

The provision underscores the WBC’s balance of elite competition and practical tournament management, ensuring shorter, more decisive outcomes in non-knockout phases while preserving drama for the final rounds.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of ABX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.