651,000 Jobs Lost In February
The official totals for February are out from the Bureau of Labor Statistics today, and they are worse than previously thought. Unemployment is now at 8.1 percent, its highest rate in 25 years. A Bloomberg survey predicted unemployment would remain below 8 percent in February. Looks like they were wrong.
Estimates put the number of layoffs in February at 650,000, so the official numbers are a bit worse, but revised information for January and December shows that there were fewer jobs lost in February than in the previous two months.
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