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Unemployment Report Posts Record Job Losses

Bonds improved today on the announcement today that February had severely high job losses.   Rates will still be .25 to the points higher today, related to yesterday afternoon’s trading.

The February unemployment report from the Labor Department showed that the unemployment rate improved in February.  The markets believe that this improvement is a result of a shrinking workforce and not a result of improving job markets.  The real bad economic news in this report was the payroll numbers, which showed a large, 63,000 number of job losses, much worse than the addition of 25,000 jobs that was expected.  This news is good for rates and the bond market as it adds strength to the idea that the economy is experiencing a serious downturn.

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