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Friday, March 07, 2008

Recession is done deal

Feb. unemployment data further confirms that we are in a recession.


From the BLS: Employment Situation Summary

Nonfarm payroll employment edged down in February (-63,000), and the unemployment rate was essentially unchanged at 4.8 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment fell in manufacturing, construction, and retail trade. Job growth continued in health care and in food services.


(click to enlarge, courtesy CR)