A Mixed Job Picture 2/23/26

Summary

Your Money Minute: "A Mixed Job Picture" (February 23, 2026)

Episode Overview

In this fast-paced, 60-second episode of CNBC's "Your Money Minute," host Jessica Ettinger delivers a concise update on the complicated state of the U.S. job market as of early 2026. Drawing on the latest hiring and layoff data, expert analysis, and actionable financial advice, the episode paints a mixed picture for workers and those tracking the economy.

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Key Discussion Points & Insights

1. Surprising Job Gains ([00:00])

• Jessica Ettinger shares that the job market kicked off 2026 with a surprise: 130,000 new jobs added in the last month. This figure suggests a pulse of hiring activity and offers a glimmer of hope amidst uncertainty.

2. Historic Layoff Numbers ([00:21]–[00:29])

• The positive job gains are offset by disheartening news: U.S. employers announced the highest number of job cuts for any January in 17 years.
  • Challenger Layoffs Analyst: “Challenger layoffs. They were a challenging number here, 108,000.” ([00:21])
  • Jessica Ettinger clarifies that some of the biggest employers—UPS and Amazon—are behind these major job cut announcements.

3. Disappointing Payroll Data ([00:35])

• Payroll company ADP reported very low job creation numbers: just 22,000 new jobs in January, far below expectations.
  • Drew Mattis, MetLife Investments: “The reality of it is there’s no demand for labor. The trend in unemployment is higher. And if anyone can kind of point to something that suggests that it’s not going to move even higher from where it is today, I’d love to know.” ([00:48])

4. Practical Personal Finance Advice ([01:00])

• Jessica Ettinger offers actionable tips for listeners facing uncertainty in the job market:

  • Build your emergency fund
  • Polish off your resume
  • Get networking to prepare for potential changes or job loss

  She notes, “It’s always the same advice. When the job market seems weak, build your emergency fund, polish off the resume and get networking.” ([01:00])

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Notable Quotes & Memorable Moments

• Challenger Layoffs Analyst:
  “Challenger layoffs. They were a challenging number here, 108,000.” ([00:21])
• Jessica Ettinger:
  “That was the worst January since 2009. UPS and Amazon among those with the big layoff announcement.” ([00:29])
• Drew Mattis, MetLife Investments:
  “The reality of it is there’s no demand for labor. The trend in unemployment is higher. And if anyone can kind of point to something that suggests that it’s not going to move even higher from where it is today, I’d love to know.” ([00:48])
• Jessica Ettinger:
  “It’s always the same advice. When the job market seems weak, build your emergency fund, polish off the resume and get networking.” ([01:00])

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Timestamps for Key Segments

• [00:00] — Introduction and headline job gains
• [00:21] — Layoff figures and commentary
• [00:29] — UPS and Amazon layoffs highlighted
• [00:35] — ADP payroll data and expert analysis
• [00:48] — MetLife’s Drew Mattis on the lack of labor demand
• [01:00] — Actionable financial advice for a weak job market

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Tone & Takeaways

Staying true to CNBC’s informative and accessible style, Jessica Ettinger rapidly distills complex labor market data into clear, practical advice. The tone is candid but supportive—balancing tough news about layoffs and weak hiring with solid financial guidance anyone can act on.

For more resources and ongoing coverage, Ettinger directs listeners to CNBC.com.

Transcript

[Jessica Ettinger]

With a CNBC YOU Money minute. I'm Jessica Ettinger. The job market started 2026 with some hiring a surprise 130,000 jobs added last month. But other job market measures have been disappointing. U.S. employers announced the most job cuts in January in 17 years.

[Challenger Layoffs Analyst]

Challenger layoffs. They were a challenging number here, 108,000.

[Jessica Ettinger]

And some big employers were behind those job cut announcements.

[Challenger Layoffs Analyst]

That was the worst January since 2009. UPS and Amazon among those with the big layoff announcement.

[Jessica Ettinger]

Payroll company adp. Its measure of job creation in January came in very low, just 22,000. That was far short of expectations. Here's a take from MetLife Investments Drew Mattis.

[Drew Mattis]

The reality of it is there's no demand for labor. The trend in unemployment is higher. And if anyone can kind of point to something that suggests that it's not going to move even higher from where it is today, I'd love to know.

[Jessica Ettinger]

It's always the same advice. When the job market seems we can build your emergency fund, polish off the resume and get networking. Lots more on [e-mail] I'm Jessica Edinger. CNBC

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