OAKLAND, CA - APRIL 17: A job seeker looks at job listings posted at the East Bay Works One-Stop Career Center April 17, 2009 in Oakland, California. The California state unemployment rate surged to 11.2 percent in March, the highest level since 1941 when unemployment was 11.7 percent. An estimated 2.1 million Californians are out of work. . (Photo by Justin Sullivan/Getty Images) (Credit: Justin Sullivan/Getty Images)
The U.S. economy unexpectedly lost 92,000 jobs in February, the Bureau of Labor Statistics reported Friday, marking the worst monthly decline since last October and a sharp miss against expectations for a 60,000 gain.
The unemployment rate rose to 4.4%, and December’s surprisingly good report was also revised into negative territory, meaning payrolls have now contracted in two of the last three months.
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