The U.S. job market turned weaker last month, dashing hopes for an economic rebound.

A report from the Labor Department on Friday shows employers cut 92,000 jobs in February, when economists had expected the U.S. would continue adding jobs, albeit at a sluggish pace. The unemployment rate inched up to 4.4%.

Job gains for December and January were also revised downward, with December now showing a net loss 17,000 jobs.

The weaker than expected jobs report comes as Americans are already anxious about the high cost of living. Those affordability concerns will likely be amplified as the war in Iran has triggered a sharp rise in energy prices. AAA reports the average price of gasoline jumped another 7 cents overnight, to $3.32 a gallon. That’s 21 cents higher than this time last year.

  • jj4211@lemmy.world
    1·
    4 days ago

    To split hairs, I think it can be conceivable, but just not possible to assign a viable probability to.

    Some one could have conceived a black swan, but since it had never ever happened, there was no data to drive a percent chance of finding one

    Some virus that instead of killing anyone just manages to somehow make everyone compulsively tell the truth. Could be imagined, but it would be ridiculous to ask how that possibility is accommodated for in someones financial model.

    Even if someone could somehow define a probability for that event, no way of really modeling the outcome since the ability to lie has been always part of the economy.