The U.S. economy shed 651,000 jobs in February and the national
unemployment rate rose to 8.1 percent, a 25-year high, according to the
U.S. Department of Labor. Manufacturing lost 168,000 jobs, marking the
32nd straight month in which there have been no job increases. Within
the manufacturing sectors, the majority of the decline was in durable
goods industries (132,000), with the largest losses in fabricated metal
products (28,000) and machinery (25,000); nondurable goods
manufacturing lost 36,000 jobs. Other industries with losses included
construction (104,000), financial services (44,000), truck
transportation (33,000), and information (15,000).
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