The U.S. Bureau of Labor Statistics will release the February nonfarm payrolls report on Friday at 8:30 a.m. ET. Economists surveyed expect job growth to range between 30,000 and 300,000, with a consensus estimate of 160,000 to 170,000 jobs added, and the unemployment rate projected to remain steady at 4.0%. Forecasts indicate average hourly earnings are expected to rise by 0.3% month-over-month and 4.1% year-over-year. January's payrolls saw an increase of 143,000 jobs, with upward revisions to prior months' data. The participation rate is expected to remain at 62.6%, while the underemployment rate (U6) is projected at 7.5%. Labor market indicators show conflicting trends. The ADP private sector jobs report showed a gain of only 77,000 jobs, while Challenger, Gray & Christmas reported 172,000 layoffs, including DOGE-related cuts. Seasonal adjustments and state and local government hiring trends may also influence the final numbers.