The US economy shed 92,000 jobs in February in a sharp slide that eroded most of the gains of the previous month and fuelled concerns over the strength of the labour market.
Wednesday’s figure from the Bureau of Labor Statistics (BLS) was well short of the 55,000 gain expected by economists polled by Bloomberg and a stark reversal from January’s unexpectedly strong tally of 126,000 new jobs.
The unemployment rate bounced back to 4.4 per cent following a decline the previous month.
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