The big jobs hole
![big_hole[1]](http://www.soundmoneyinstitute.com/wp-content/uploads/2010/02/big_hole1.jpg "big_hole[1]")
The government’s monthly job report on Friday showed that the disastrous labor situation plaguing the nation’s economy is moderating. But the report also underlines an unsettling reality: 8.4 million jobs have been vaporized since the recession began, and digging out won’t be easy.
The unemployment rate fell unexpectedly in January to 9.7%. And businesses shed 20,000 jobs for the month, far fewer than the 150,000 jobs that were lost in December.
But, at the same time, the Labor Department revised its previous estimates for the number of jobs that have been lost over the past 25 months. What they found wasn’t pretty.
Read More: – By David Goldman, CNNMoney.com
