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It's nothttp://www.youtube.com/watch?v=vna4ZP... see descriptionGovernment jobs rose, all else fellFebruary Jobs ReportWith the above backdrop in mind, let's take a look at the February Jobs Report.Nonfarm payroll employment edged down in February (-63,000), and the unemployment rate was essentially unchanged at 4.8 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment fell in manufacturing, construction, and retail trade. Job growth continued in health care and in food services. Average hourly earnings rose by 5 cents, or 0.3 percent, over the month.This notion of jobs "edging down" is preposterous. It takes about 150,000 jobs a month just to keep up with the birth rate and immigration. The loss of 63,000 jobs was an unmitigated disaster that cannot be hidden by obvious spin aimed to soften the blow.Details Worse Than Headline Numbers* Construction Jobs Fell 39,000* Manufacturing Jobs Fell 52,000* Goods Producing Jobs Fell 89,000* Private Sector Jobs Fell 101,000* Government Jobs Rose 38,000Construction jobs and Manufacturing jobs are subsets of goods producing jobs. Those jobs tend to be higher paying jobs. Leisure and hospitality added 21,000 jobs and those tend to be lower paying jobs. Worse yet, the government added 38,000 useless jobs. Without those government jobs, the headline would have read 101,000 jobs lost. Arguably the headline numbers should be about private sector jobs in any case.The amazing thing is that this was all considered "unexpected". It was not unexpected in this corner. I talked about Commercial Slowdown A Disaster For Jobs just two days ago.