Morning Business Report: U.S. job growth falls short in February
American companies hired fewer than half the number of employees forecasted for February.
(LILAMAX)- According to payroll processor ADP, American companies hired fewer than half the number of employees forecasted for February. Only 77,000 workers were added last month, a sharp decline from January’s 186,000. This slower-than-expected hiring growth raises concerns about the labor market’s recovery.
President Trump provided some clarity on trade by announcing a one-month pause on auto tariffs after discussions with U.S. automakers. The Dow responded positively, surging 500 points following the news. Trump’s move comes amid ongoing trade tensions, signaling a temporary relief for the automotive industry.
In his address to a joint session of Congress, President Trump gave a shoutout to BlackRock, which helped drive the company’s stock higher. BlackRock is set to acquire a majority stake in two ports associated with the Panama Canal, an effort aligned with Trump’s plans to reassert control over the vital shipping route and counter what he terms “Chinese influence” in the region.
More Americans are tapping into their 401(k) accounts to cover financial emergencies. The Wall Street Journal reports that nearly 5% of 401(k) account holders took early withdrawals in 2024, marking a significant increase from the previous year. Withdrawals before the age of 59 and a half come with a 10% penalty, along with taxes on the amount withdrawn, highlighting the growing financial strain on many workers.
Starbucks is facing increased competition, long wait times, and employee strikes calling for higher pay and benefits. In response, new CEO Laxman Narasimhan gave baristas a dose of tough love, urging them to “step it up.” The coffee chain is working to turn things around after recently laying off 1,100 corporate workers, signaling a restructuring effort to improve operations.
A recent survey by Talkers Research for Burn Boot Camp revealed the top health goals for women in 2025. Forty-three percent of women aim to lose weight, 40% seek better sleep, and 36% are focused on improving their eating habits in the new year. The survey highlights growing awareness and priorities surrounding health and wellness among women.
