The Private-Sector Jobs Drop

The Private-Sector Jobs Drop Private sector firms in the U.S. eliminated 20,000 jobs in February. That is the 25th decline in a row according to the ADP employment report just released. Today’s numbers represent the fewest jobs loss since jobs were added about two years ago in the private sector. A small sigh of relief for the unemployed, the Senate reached the deal to lift Senator Jim Bunning’s block of a bill extending unemployment benefits. Bunning argued that the unemployment bill violated congressional rules requiring new initiatives to be paid for. Democrats had the extentuous emergency legislation which is exempt from those rules. Since the bill stalled, more than a hundred thousand people stopped to getting unemployment jacks. You can add Nissan to the recall list alongside Toyota and GM. The Japanese auto maker is recalling 540,000 vehicles worldwide to fix faulty break pedal pins and inaccurate fuel gauges. Nissan said no accidents or injuries had been reported but the company is starting the recalls because of three reports of break pedal pins disengaging. A separate fuel gauge problem can cause inaccurate fuel readings in some trucks and mini vans leaving drivers to run out of gas and the post office may stop delivering mail on Saturday. That’s one option post master General John Potter is requesting to plug a growing hole in the agency’s budget. Because Americans are shifting from traditional letters to email, the post office faces a loss of seven billion dollars this year and 238 billion over a decade. The number of items handled by the post office is expected to fall from 213 billion on 2006 to 150 billion by 2020. That’s your money watch. For more, stay with CBSMoneyWatch.com. In New York, I’m Emily Smith.