US Payrolls Fall, Raising Odds for Recession...

U.S. recession fears mount as employment falls by 63,000 in February, its fastest rate in five years, suggesting that the housing and credit crunch is gripping the broader economy. Unemployment rate surprisingly ticks down to 4.8%, triggered by a 450,000 decline in the size of the labor force, not a rise in employment. Data support expectations for additional Fed rate cuts.