Employers Slash Jobs, Thousands Drop Out
of the Labor Force
Dangerous cracks in the nation’s job market are
deepening. Employers slashed jobs by the largest
amount in five years and hundreds of thousands
of people dropped out of the labor force – ominous
signs that the country is falling toward a recession
or has already toppled into one.
For the second straight month, nervous employers got rid of jobs nationwide. In February, they sliced payrolls by 63,000, even deeper than the 22,000 cut in January, the Labor Department reported Friday.
The grim snapshot of the country’s employment climate underscored the heavy toll the housing and credit debacles are taking on companies, jobseekers and the economy as a whole.
Full story:
http://biz.yahoo.com/ap/080308/economy.html
Filed under: Business | Tagged: Business, depression, gold, jobless, personal finance for a higher purpose, Politics, recession, Ron Paul, silver, unemployment
