Overall
The February 2009 employment report indicated that the economy shed another 651,000 jobs, bringing the total to 4.4 million jobs that have now been lost in this recession which began in December 2007.
This was the biggest decline in jobs since 1949; effecting industries across the board with only education and health-related areas reporting gains. Unemployment shot up to over 8%, the highest rate since 1984.
Optimists are clinging to the data that shows the rate of job loss slowing during the last two months, which is leading to hope of improvement for March and beyond, if job-market losses indeed reached their nadir in December.