US Jobs - 2025-03-06

Solid payrolls, meeting the consensus and blowing away the whisper-number, despite bad weather effects. Federal government payrolls fell by 10,000 (but that just erases the single prior month's gain). With this report we introduce our new DOGE tracker on page 4, ranking the states by rise in jobless claims since Trump took office. Washington DC and Virginia and Number One and Number Two (but Maryland went the other way, with fewer claims). Partial correlation isn't partial causation, but it's a partial clue.