The BLS reported 151 thousand non-farm jobs were added in February.   During the Winter months, I like to look at the weather impact on the report. The BLS reported 404 thousand people were employed in non-agriculture industries, with a job, but not at work due to bad weather. The average for February over the previous 10 years was 300 thousand (median 222 thousand), so more people than normal were impacted by bad weather. Weather-Adjusted Change in Total Nonfarm Employment (monthly change, seasonally adjusted). They use local area weather to estimate the impact on employment. For February, the San Francisco Fed estimated that weather reduced employment by 2 to 12 thousand jobs. It appears weather adjusted job gains were around 160 thousand in February (seasonally adjusted)

Weekend: Schedule for Week of March 9, 2025 Pre-Market Data and Bloomberg futures S&P 500 are down 48 and DOW futures are down 294 (fair value). WTI futures at $67.04 per barrel and Brent at $70.36 per barrel. A year ago, WTI was at $79, and Brent was at $84 - so WTI oil prices are down about 11% year-over-year. Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $3.05 per gallon. A year ago, prices were at $3.40 per gallon, so gasoline prices are down $0.35 year-over-year.

On March 6, the global AI landscape shifted.

At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. ICE Mortgage Monitor: Property Insurance Costs Rose at a Record Rate in 2024 Fannie and Freddie: Single Family Serious Delinquency Rates Increased in January 1st Look at Local Housing Markets in February Asking Rents Mostly Unchanged Year-over-year Final Look at Local Housing Markets in January and a Look Ahead to February Sales