Jobs report Friday is expected to show a slowing but still healthy labor market [Video]

Job growth in the U.S. likely decelerated in February while still a long way from stall speed as companies continue to keep up demand for workers.

When the Labor Department releases the nonfarm payrolls report Friday at 8:30 a.m. ET, it’s expected to show growth of 198,000 and the unemployment rate holding steady at 3.7%, according to Dow Jones consensus estimates.

If the forecast is close to accurate, it would mark a considerable downshift from January’s explosive growth of 353,000, but still representative of a fairly vibrant labor market.

“This is kind of a cautious labor market. Employers are hiring to keep pace with business activity,” said Julia Pollak, chief economist at ZipRecruiter. “Many businesses still report higher than expected sales. But they’re not aggressively hiring for growth and to expand. For that, many are still taking …