More discouraging news came in the monthly report’s tally of an average wage growth of 0.3 percent for the month.

Wages over the past three months have risen at a slower rate than inflation, noted Dean Baker, co-director of the Center for Economic Policy and Research in Washington.

Meanwhile, 17.5 percent of unemployed job hunters have been out of work longer than 26 weeks and have exhausted all state unemployment benefits.

“"Long-term unemployment figures are worse today as compared to the beginning of the last recession"8221; said Christine Owens, executive director of the National Employment Law Project.

Another effort to shore up the slipping economy came Friday with the Federal Reserve’s announcement that it will pump up loan auctions and repurchase agreements to encourage banks to lend to customers.

Analysts also expect the Fed to cut interest rates again, perhaps by three-fourths of a percentage point, at the board’s March 18 meeting.

While the health-care sector and many service industries continued to add jobs in February, those gains didn’t offset job cuts in manufacturing, construction and retail.

Retail payrolls fell by 34,100 jobs, and manufacturing jobs dropped by 52,000, the largest fall for both sectors in about five years.

The February report also revised downward January’s payroll numbers, showing a loss of 22,000 jobs instead of the 17,000 loss that was initially reported.

U.S. economic growth had slowed to a 0.6 percent rate in the fourth quarter last year, and economists generally expect an even slower pace in the first quarter this year.

“We’re in a recession. Full Article at KansasCity.com