Blue Herald
07
Mar
63,000 Jobs Lost in February
by QuestionGirl • 10:12 am

Unexpected? What…….are they really that stupid? Nevermind…….

The economy unexpectedly shed 63,000 jobs in February, the government said on Friday, fueling fears of a recession as manufacturers and construction companies cut their work forces amid the continuing housing crisis.

It was the fastest fall-off in the labor market in five years, and the report raised anticipation on Wall Street that the Federal Reserve will lower interest rates again later this month. Some investors are now predicting a more drastic cut of a full percentage point.

More at the NY Times



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