CNBC anchor Rick Santelli exclaimed twice over a February jobs report that confirmed sudden losses and a pointy drop within the workforce — every of which elicited a surprised “Wow!”
Experts had been expecting a rise of round 50,000 jobs forward of the Employment Situation report for final month.
On Friday morning, the Bureau of Labor Statistics launched a February jobs report that noticed 92,000 jobs misplaced and 69,000 extra in downward revisions:
Total nonfarm payroll employment edged down by 92,000 in February, and the unemployment price modified little at 4.4 %, the U.S. Bureau of Labor Statistics reported in the present day. Employment in well being care decreased, reflecting strike exercise. Employment in info and federal authorities continued to pattern down.
On Friday’s edition of CNBC’s Squawk Box, Santelli broke the information with intermittent dismay:
CNBC ANCHOR RICK SANTELLI: Yes, right here we go! This is the massive Feb job job jobs report!
Watch above by way of CNBC’s Squawk Box.
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