The Non Farm Payroll report released this morning announced the US Economy has lost another 663,000 jobs in the past month. The data was in line with analyst’s expectations. The Jobless rate is now 8.5%, the highest in 25 years as more employers laid off workers due to worsening economic conditions.
January’s figures were revised with an earlier reported 655,000 but now standing at 741,000 lost jobs ( a revision of 86,000 jobs). February’s numbers remained unchanged.
The number of employers considering layoffs has not decreased and as more companies announce further restructuring the harder it will be for the US economy to bounce back. The expectation for President Obama’s Stimulus Plan is high as he has specifically targeted American jobs as a priority.
