Feb Unemployment Rate Holds at Dismal 9.7%
Worst. President. Ever.
The US unemployment rate held steady at a disappointing 9.7% in February.
36,000 more jobs were lost in February.
The jobless rate in the U.S. held at 9.7 percent in February and employment declined less than forecast even as severe winter weather may have forced some employers to temporarily close.
Payrolls dropped 36,000 last month after a 26,000 decrease in January, figures from the Labor Department in Washington showed today. Employment fell in construction and increased at temporary-help services. While more people entered the workforce, the unemployment rate was unexpectedly unchanged.
Blizzards during the week that the government surveys businesses and households on jobs set seasonal snowfall records in cities including Washington and Philadelphia, prompting many Americans to stay home. The economic expansion that began last year has yet to generate sustained gains in employment, raising the risk that the recovery will cool as households keep a lid on spending.
UPDATE: 1.2 million discouraged workers.