651,000 US Jobs Lost in February; Unemployment Rate Now at 8.1%

by matttbastard

Yep, it’s that time of the month again, kids:

U.S. employers axed 651,000 jobs in February, pushing the unemployment rate to its highest in 25 years, as companies buckled under the strain of a recession that is showing no signs of ending, according to a government report.

[...]

The Labor Department on Friday said the unemployment rate surged to 8.1 percent in February, the highest level since December 1983. That was above market forecasts for a rise to 7.9 from January’s 7.6 percent.

Oh, and about the figures for December and January:

January’s job cuts were revised to show a steep decline of 655,000, while December’s payrolls losses were adjusted to 681,000, the deepest since October 1949. Since the start of the recession in December 2007, the economy has purged 4.4 million jobs, with more than half occurring in the last 4 months.

Y’know, at this point, I might as well just do up a template for posts on the monthly US job figures report.  The latest numbers always seem to be the highest in umpteen years, with a swift recovery less likely than the possibility of Keith Olbermann STFUing about Rush Limbaugh any time soon. (Dude? Seriously? STFU about Rush Limbaugh.  The obsession has going beyond grudgewank, beyond drama-humping, to fucking pathological.  You need help–a 12 step program of recovery, to quote the best RNC chair EVA.)

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2 Responses to 651,000 US Jobs Lost in February; Unemployment Rate Now at 8.1%

  1. Why Job Boards Don’t Work Like They Used To
    By BankingorBust, LLC
    ——————————————————-

    Five or ten years ago, you could submit your resume to an internet job board and actually receive responses. Yes, the good old days. Today, if you primarily, or even heavily, rely on job boards for your job search you may receive a rude awakening. Here’s why…

    Read the rest of the article at Bankingorbust.com

  2. Renee says:

    I think it really hit home to me when I watched a report on CNN about 500 people applying for a job as a janitor. These days it takes luck and networking to get a job and yet we still look at unemployment as some sort of personal failure. Even the ones that are working are often in positions that are contract with no benefits. We need a massive reorganization of employment.

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