March 8, 2010 Weekly Economic Update by Pete Mitchell

The Labor Department reported only 36,000 net job losses last month, so the jobless rate was flat for February, unless you were one of the 36,000 that lost their job, then it was pretty close to 100%. Economists had widely assumed the unemployment rate would inch upward due to winter weather affecting construction and retail industries.1 As I’ve been saying for a while, we are not out of this, not even close.