"There are signs of a consistent pattern of weakness in February," said Harris, who may also cut his projection for growth in the nation's gross domestic product to 1.5 percent from 2 percent. "Virtually all of the data has been very weak."
The plunge in payrolls was the most since November 2001 and was four times the lowest prediction in a Bloomberg News poll of economists.
Earlier this week, the Institute for Supply Management reported that US manufacturing expanded in February at the slowest pace in three months after consumer spending on cars and other durable goods fell the most since 1990.
RSS