WASHINGTON (MarketWatch) -- U.S. nonfarm payrolls declined for the 25th time in the past 26 months, falling by 36,000 in February to a seasonally adjusted 129.5 million, the Labor Department estimated Friday.
The nation's jobless rate was steady at 9.7% as the number of people employed rose by 308,000, according to the household survey.
Severe snowstorms during the survey week may have depressed the payroll count, but the Bureau of Labor Statistics said it could not quantify the impact. Read the full report on the Labor Department website.
Ahead of the report, economists cautioned against reading too much into the data, in light of the likely impact of the storms. It'll take until April before a clean count can be given. [More]
Wait until April and they will revise the unemployment rate upwards more likely. Blaming the weather for the 9.7% unemployment number is voodo. There is absolutely no way they can blame one factor on the disappointing report.
We are being lied to. Again. And for the sake of propaganda.
How's the president's "focus" on jobs working for America?
Obama is the reverse Midas. Everything he touches turns to crap.