Home > Venture Capital / Private Equity > Feb job data numbers for the US are ugly. What is really going on?

Feb job data numbers for the US are ugly. What is really going on?

http://www.nytimes.com/imagepages/2009/03/06/business/20090307_JOBS.html
http://www.nytimes.com/2009/03/07/business/economy/07jobs.html?em

The New York Times reports this morning and I quote the link above: “The unemployment rate surged to 8.1 percent, from 7.6 percent in January, its highest level in a quarter-century. In key industries — manufacturing, financial services and retail — layoffs have accelerated so quickly in recent months as to suggest that many companies are abandoning whole areas of business.”

So what are you my friends in the US seeing on the ground? Does it feel like the worst-ever? I take a global view of the world economy so it would be good to hear i-reports from everywhere.   I am keen to hear about whats going on in New York, Boston, Austin, RTP, San Francisco, parts of Ohio and Illinois, etc. I have first hand reports from China, Singapore, London and Dubai but more datapoints are welcome.

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