TrimTabs Estimates US Lost 778,000 Jobs in February; Job Losses Top 3 Million Past Six Months

Sausalito, CA – March 4th, 2009 – TrimTabs Investment Research estimates that the U.S. economy shed 778,000 jobs in February, the biggest job loss of the recession so far.

"The economy lost 2.1 million jobs in the past three months, equal to a staggering 1.6% of the entire work force," said Charles Biderman, CEO of TrimTabs. "These job losses are the largest as a percentage of the labor force since February 1975."

TrimTabs uses daily income tax withholdings into the U.S. Treasury to estimate changes in employment. Withholdings plunged 4.1% year-over-year in February.

"Unfortunately for American workers, there is no end in sight to the economic slump," noted Biderman. "We expect the economy to lose at least 650,000 jobs in each of the next four to six months."

Other indicators confirm that the labor market is contracting rapidly. The TrimTabs Online Job Postings Index fell 3.6% in February and is down 38.7% from its interim peak in mid-2008. Also, weekly unemployment claims exceeded 600,000 in each of the past four weeks, and continuing unemployment claims broke the 5 million mark last week.

"Real-time data leaves little doubt the economy is in a free fall unlike any since the 1930s," said Biderman. "Widespread hopes that the economy will recover in late 2009 are going to be dashed, which will knock stock prices even lower."