Hey there from CNN, I'm David Rind with the five things you need to know for Friday, March 6th.

The February jobs report is out, and the short story is, yikes.

The latest official employment snapshots showed that the U.S. economy lost around 92,000 jobs last month.

Economists were expecting a 60,000 job gain. The U.S. has lost jobs now

in five of the last nine months. CNN's Alicia Wallace is here to explain Alicia what is happening.

Job growth was historically weak last year because of a combination of factors, but thankfully,

unemployment didn't ramp up significantly higher, so there were still hopes that the labor

market was just merely shifting into a lower gear. February's jobs report could shake that sentiment.

Now, some of last month's losses can be attributed to some one-time factors. There was a major

healthcare worker strike, which shows up as a 31,000 job loss, as well as a big cold snap.

However, the weakness was broad-based.

Most industries lost jobs, indicating that the labor market is showing vulnerability at a time when an escalating Middle East conflict could deliver some economic shocks.

Unfortunately, we've got some more tough financial news coming up, this time around gas prices, and why there may not be relief in sight thanks to the war in Iran.

Stick around.

Gas prices have jumped nearly 27 cents in one week. That's according to AAA.

Energy Secretary Chris Wright told ABC News yesterday that he expects the spike will be short-lived.

It's very temporary. This is a 47-year-long conflict with Iran that finally will come to an end in the next few weeks.

We don't know the exact length, but pretty temporary.

The skyrocketing prices are in a large part tied to what's happening in the Strait of Hormuz.

This is the world's most critical oil choke point.

Traffic there has come to a standstill, which means crude isn't flowing into or out of the

Middle East, and prices are climbing as a result.

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