Dan North | March 2026
The February employment report was somewhat alarming, as the economy lost -92,000 jobs vs. expectations of gaining 50,000 jobs. It was the fifth loss in nine months. It’s wise not to place too much emphasis on any one month’s data, so sometimes a three-month moving average can be useful to smooth out the bumps and give us a better idea of the underlying trend. But it turns out even that analysis is a bit discouraging.
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