Nearly 600K jobs lost in Jan.; more pain aheadIs it just me, or does "a third of a century" sound longer than "33 years"?
By JEANNINE AVERSA, AP Economics Writer
Fri Feb 6, 2009
WASHINGTON – The nation lost nearly 600,000 jobs last month, the worst showing in a third of a century, as a vicious cycle of cutbacks by consumers forced ever more layoffs by beleaguered employers. The unemployment rate catapulted to 7.6 percent, the highest in 16 years, and seems headed for double digits.
Some 3.6 million jobs have disappeared so far in a deepening recession, which is shaping up as the biggest job killer in the post-World War II period...
I'm sure glad that the fundamentals of the economy are strong...
Otherwise, we could be in real trouble!
Thanks again, W!!!