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Wednesday’s report, calculated on payroll data, said the private sectodr eliminated 697,000 jobs on a seasonally adjusted basisin That’s an increase of 83,000, or 11 percent, from a revisedd total of 614,000 in January. Economists were expectin g a lossof 630,0009 private sector jobs, according to a survey by Briefing.com. But a separats employment report released Wednesday from outplacement firm suggesterd that the worst may be over forthe nation’s strained job It reported that the number of plannes job cuts announced in February fell for the firsyt time since December. The reports come just days beford government’s monthly jobs report due The U.S.
Department of Labor report is expectedr to show that the economyshed 650,000 jobs in more than the 598,000 reported for according to a consensus estimated of economists complied by The unemployment rate is expected to rise to 7.9 percen t from 7.6 percent.
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