The Jobs Situation: Still Bleak

by Pejman Yousefzadeh on March 6, 2010


It’s not much fun reading this report:

Friday’s better-than-expected jobs report, while cheering stock investors, hasn’t taken the threat of a double-dip recession off the table.

Even as the jobless rate held steady at 9.7 percent and the 36,000 workers laid off in February was much less than expected, economists and investment analysts said it’s still too early to discount the economy’s chances of revisiting recession.

“Eight months into the much-touted recovery, the economy should be adding jobs not just losing jobs at a slower pace,” University of Maryland economist Peter Morici wrote in an analysis.

“No study of economic history could yield a conclusion other than that the US economy (walks) along the precipice of a double dip recession.”

But remember: According to Harry Reid, yesterday was a “big day!”

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