'Hiring was ice cold in February': US businesses last month added workers at the slowest pace since pandemic

February’s hiring rate, at 3.1%, clocked in at the worst pace since the early days of the pandemic and before that since 2011, Labor Department data released Tuesday showed.

US hires plunged to 4.8 million last month, down by 387,000 from a year ago, according to the Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics.

“3.1% is not only comparable to the COVID low point - it’s also comparable to late 2009 and early 2010, when the unemployment rate was around 10%,” Guy Berger, director of economic research at the Burning Glass Institute, wrote on X. “Hiring was ice cold in February.”

https://finance.yahoo.com/news/hiring-was-ice-cold-in-february-us-businesses-last-month-added-workers-at-the-slowest-pace-since-pandemic-142635046.html

****ing Biden.