Employers Slash 63,000 Jobs in February, Most in 5 Year, Feeding Recession Fears

Employers Slash 63,000 Jobs in February, Most in 5 Year, Feeding Recession Fears

www.nworeport.com

WASHINGTON (AP) -- Employers slashed jobs by 63,000 in February, the most in five years, the starkest sign yet the country is heading dangerously toward recession or is in one already.

The Labor Department's report, released Friday, also showed that the nation's unemployment rate dipped to 4.8 percent as hundreds of thousands of people -- perhaps discouraged by their prospects -- left the civilian labor force. The jobless rate was 4.9 percent in January.

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Well this is not a surprise at all. We knew this was happening.

www.nworeport.com
(visit the link for the full news article)

no,didnt you hear what mein fuhrer said?,we are not in a rescesion,everythings just fine,its just a natural downwards blip in our economy due to outwards sabotage by china,devaluing our currency by flooding our markets with thier goods and provoking worldwide inflation by over consuming on purpose

on weekends i like to fly my pigs.

Thanks for this thread, we needed an update on the job situation and the economical woes that are plaguing and killing our nation.

But like the poster before me said, our comander in cheif said that we are not in a recession and the nation's economy is stong, people are working.

He needs to get off the richistan America he live on and ride the his butt on real America streets.

Sometimes I think Bush live like the bubble kid.

More to the information on jobs,

1. OHIO JOB LOSSES IN 2000’S WORST SINCE GREAT DEPRESSION

Since the end of 2000, total non-farm employment in Ohio has declined by 3.7%, a loss of 209,400 jobs. Issuing a report looking at the breakdown of job losses across Ohio, the American Manufacturing Trade Action Coalition (AMTAC) has release a report prepared by Dr. Charles W. McMillion, President and Chief Economist of MBG Information Services.

www.economyincrisis.org...

US Manufacturing Contracted in February

ap.google.com...

Foreclosures hit all-time high

Over 900,000 borrowers are losing their homes, up 71% from a year ago, and a record number of home owners are behind on payments.

money.cnn.com...

Private Sector Loses 23,000 Jobs

Despite the overall decline, ADP saw a gain of 15,000 jobs among small businesses with between one and 49 employees, but that was more than offset by a decrease of 4,000 jobs among midsized businesses with between 50 and 499 employees, and 34,000 jobs among large businesses with more than 499 employees.

www.webcpa.com...


[edit on 7-3-2008 by marg6043]

I work for a large company and lost about 100, but we hired about 100 in India

the DOW just dropped -91.99 / 11,948.40 we are now below 12,000 and falling