Nation's first job loss in more than four years tells only part of the story of the weak labor market. The ranks of the long-term unemployed are growing.
By Chris Isidore, CNNMoney.com Senior Writer
NEW YORK (CNNMoney.com) -- A government report on January jobs showing that employers trimmed payrolls for the first time in four years set off alarm bells.Yet one more hat tip to Al B.
But the report, which was released Friday, tells only part of the story about the underlying weakness in the labor market.
The number of Americans out of work for at least six months is rising - reaching levels more typically seen deep into a recession or period of job contraction, not at the beginning.