Chimpy matches his all-time low job approval rating in the newAP-IPSOS poll.
Approve: 30% (unchanged, matches last month’s all-time low)
Disapprove: 66% (unchanged)
Generally speaking, would you say things in this country are heading in the right direction, or are they off on the wrong track?
Right Direction: 22% (-3%)
Wrong Track: 73% (+2%)
WASHINGTON – Employers slashed jobs by 63,000 in February, the most in five years, the starkest sign yet the country is heading dangerously toward recession or is in one already.
The Labor Department’s report, released Friday, also showed that the nation’s unemployment rate dipped to 4.8 percent as hundreds of thousands of people — perhaps discouraged by their prospects — left the civilian labor force. The jobless rate was 4.9 percent in January.
Job losses were widespread, with hefty cuts coming from construction, manufacturing, retailing, financial services and a variety of professional and business services. Those losses swamped gains elsewhere including education and health care, leisure and hospitality, and the government.
The Labor report also showed that the job losses suffered in January were worse than the government first reported. Employers cut 22,000 jobs, versus 17,000.
It was the first monthly back-to-back job losses since May and June 2003, when the job market was still struggling to recover from the blows of the 2001 recession.