Financial Times FT.com

US private sector cuts 697,000 jobs

By Alan Rappeport in New York

Published: March 4 2009 13:59 | Last updated: March 5 2009 02:13

The US private sector shed 697,000 jobs in February, a survey of business employment showed on Wednesday.

“The nightmare continues,” said Ian Sheperdson, chief US economist at High Frequency Economics. “Every indicator tells us that employment is tanking across the economy.”

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