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February Jobs Report: Main Street Lays an Egg

February’s jobs report showed a net loss of 92,000 positions, with the private sector shedding 86,000 jobs and government payrolls down 6,000. The headline unemployment rate ticked up to 4.4%, while the broader U6 underemployment measure fell slightly to 7.9%. Leading indicators such as manufacturing, construction, trucking and temporary‑help employment all posted declines, and revisions to prior months added another 69,000 jobs to the negative tally. Despite a modest 0.3% rise in hourly wages, the overall picture points toward a recessionary shift.