Looking for silver linings in the storm clouds…
The Bureau of Labor Statistics reported that 651,000 jobs were cut from the nation’s payrolls last month.
That would make last month the worst single month of jobs cut since October 1949 — except for the fact that the government also adjusted the number of jobs lost in the previous two months.
Adding 57,000 to January job losses, the new number is 655,000.
Adding an additional 104,000 job losses to December’s numbers means 681,000 jobs were cut that month.
I suppose one could also see something of a positive trend line there — that there were fewer job losses in January than December, and fewer in February (at least as of now) than in January. (Though, of course, February only has 28 days — making it 10% shorter than January and December.)
Man, it’s bleak out there.