Today the BLS reported 36,000 job losses with the unemployment rate holding at 9.7%. Before diving into the numbers let’s analyze the snow job ahead of the report. Speaking before Congress, Fed Chairman Ben Bernanke harped about snow, warning policymakers will “to be careful about not overinterpreting” the upcoming data.” In the wake of that warning, economists busily upped their projections for job losses in February, some by as much as 220,000 jobs. I talked about that …

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Jobs Contract By 36,000; Unemployment Rate Steady At 9.7%; No Snow Effect