Jobless Rate Bolts To 8.1 Percent, 651K Jobs Lost
WASHINGTON — The government says the nation’s unemployment rate bolted to 8.1 percent in February, the highest since late 1983, as cost-cutting employers slashed 651,000 jobs.
The Labor Department’s report shows America’s workers being clobbered by a relentless wave of layoffs.
The net loss of 651,000 jobs in February came after even deeper payroll reductions in the prior two months, according to revised figures. The economy lost 681,000 jobs in December and another 655,000 in January.