The U.S. economy continued to hemorrhage jobs in February, bringing total job losses over the last six months to more than 3.3 million, and taking the unemployment rate to its highest level in 25 years.Barack Obama didn't "inherit" a bad economy, he chose to run for President with the plan that he could fix it. Well, he lied about that and he lied about creating jobs. Indeed, the economy has gotten worse since Barry took office and there are no signs that it'll turn around anytime soon. Meanwhile, Barry's busy making jokes about these troubling financial times, his wife Michelle brags about having personal assistants and hundreds of thousands of families around the country are on the brink of going homeless. "Change we can believe in"--what a laugh riot that Barry is.
The government reported Friday that employers slashed 651,000 jobs in February, down from a revised loss of 655,000 jobs in January. December's loss was also revised higher to a loss of 681,000 jobs, a 59-year high for losses in one month.
Economists surveyed by Briefing.com had forecast a loss of 650,000 jobs in February.
"The economy is headed south with a vengeance," said Kurt Karl, head of economic research for the U.S. unit of insurer Swiss Re.
The unemployment rate rose to 8.1% from 7.6% in January. It was the highest reading since December 1983 and higher than economists' projections of 7.9%.
Most workers who have jobs today are not old enough to have worked in a labor market this bad, while 13% of workers weren't even alive the last time unemployment was at this level.