This morning's BLS employment data was much better than feared. The unemployment rate stayed steady at 9.7% and the economy lost "only" 36,000 jobs. According to Wall Street Journal estimates, economist "were expecting payrolls to fall by 75,000 mainly because of the severe weather."
However, number of involuntary underemployed (part time for economic reasons) and those part time because of slack work both increased dramatically in February. Not a good sign. But, as I've said before, let's not read too much into one month's data -- especially a month with two major snow storms.
Involuntary Underemployed 
However, number of involuntary underemployed (part time for economic reasons) and those part time because of slack work both increased dramatically in February. Not a good sign. But, as I've said before, let's not read too much into one month's data -- especially a month with two major snow storms.
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