Producer price index drops for the first time since October 2023
Latest round of U.S. tariffs went into full effect at midnight Wednesday
Hiring slows from January, but job market remains healthy
The producer price index was unchanged from January, after rising 0.6% the month before
The outlook for the labour market is murky as Trump wages a trade war with foreign countries
But the unemployment rate ticked up slightly to 4.1% as the number of jobless Americans rose
The U.S. economy grew 2.8% in 2024, compared with 2.9% in 2023
As fight against inflation stalls, expectations for rate cuts this year have diminished
Still, the jobless rate slipped to 4% to start 2025
The openings fell short of what economists had expected