It’s hard to imagine a report being a whole lot worse than this. Basically, everything is terrible except for some parts of the pharmaceutical industry and discount-retail (inferior goods). And oh, the economy shed almost 700,000 jobs in February and it wasn’t even a leap year. But wait, there’s this!
The other silver lining in the report was evidence that prices are dropping, a reflection of lower costs for energy and raw materials.
There’s been some concern about entering a deflationary spiral in which lowered demand results in further business contractions, lowering demand further, and so on and so forth. Let’s hope the Fed is right about lowered prices being a function of commodities. In the mean time, do your best to stimulate the economy.