Another Rotten Jobs Report from February

The employment outlook is getting worse. The government reported Friday that the unemployment rate dropped from 4.9% to 4.8% last month, but the numbers behind the numbers show that it wasn't a good month for payrolls. The report on non-farm payrolls showed a loss of 63,000 jobs. Over the last four months, the economy has created just 16,000 new jobs. The economy needs to create 200,000 new jobs each month just to keep up with population growth.

The number of jobs as a percent of the civil labor has been declining since the end of 2006. If we had merely kept that pace, then the economy would have over 1.6 million more jobs right now.

Comments

[Dana Cole]

You know what? We're going to get through this.

It's going to be all right.

[cheesecake]

LOL, i live in DC and the only company hiring is the GOV. Forget about the private sector, things are going to get really bad.

[Will Rahal]

The yr/yr % change in Employment in Services looks
like a bouncing ball losing momentum and scheduled to hit the ground in a year or so.
Services hold 84% of the jobs in the US.