In february, for the twenty-fifth time in 26 months, the American economy shed jobs. The toll-a decline of 36,000-was smaller than feared for a month of severe winter weather. But it was distressing nonetheless; another bit of evidence pointing towards a jobless recovery. Most economists estimate that the recession in America ended around the close of the second quarter of 2009, the last quarter in which gdp shrank. But during the second half of last year the economy still managed to lose more than a million jobs.
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