US February job report is a total disaster.

The U.S. didn't just stop hiring, it actually lost 92,000 jobs in February.

Unemployment has climbed to 4.4%, surpassing the 4.3% estimate.

Despite the vanishing jobs, Average Hourly Earnings rose 0.4%, showing that wage inflation is still sticky even as the labor market breaks.

Markets started reacting immediately.
U.S. equities futures started dumping as investors realized the soft landing was a myth.

- Dow Jones down 1.20%.
- S&P 500 down 1.19%.
- Nasdaq down 1.57%.
- Small Cap 2000 down 2.03%.

This is a nightmare for the Federal Reserve. Usually, when jobs go away, prices stop rising. But right now, costs are still going up while people are losing their livelihoods.

On top of that, Americans have stopped spending. Retail sales fell by -0.2% in January, and core shopping didn't grow at all.

The soft landing that Fed promised seemed dead now. The U.S. economy is now shrinking while everything gets more expensive.

With a war in the Middle East pushing oil prices to $87, the government is stuck. They can't lower interest rates to save jobs because energy costs are keeping inflation too high.

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