WASHINGTON — The U.S. February employment report released Friday was weak, with a 63,000 decline in jobs and a modest decline in the civilian unemployment rate of 0.1 point to 4.8%, reflecting an adjustment in the labor force as workers apparently became discouraged at finding jobs.
The January-December payroll revisions totaled a net negative 46,000, and along with the February job decline is a recession-type reading. February was the worst payroll result since a 92,000 decline in July 2003.
— Market News International
