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Economy sheds most jobs since 2003, more cuts seen
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Oct 3, 5:48 PM (ET)
By JEANNINE AVERSA
(AP) George Williams uses a phone in the resource center at Pennsylvania Career Link in Harrisburg, Pa.,...
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WASHINGTON (AP) - Jobs are vanishing at the fastest pace in more than five years with pink slips likely to keep stacking higher in the months ahead, an urgent signal the country may be careening toward a deep and painful recession just as Americans prepare to elect a new president.
Whether that's Democrat Barack Obama or Republican John McCain, one of them will be dealing with the weakest employment climate in years.
Increasingly skittish employers dropped the ax even harder in September, chopping payrolls by 159,000 - more than double the cuts made just one month before. It was the ninth straight month of job losses. A staggering 760,000 jobs have disappeared so far this year.
The Labor Department's report, released Friday, also showed that the nation's unemployment rate was 6.1 percent, up sharply from 4.7 percent a year ago. Over the last year, the number of unemployed people has risen by 2.2 million to 9.5 million.
http://apnews.myway.com/article/20081003/D93J98201.html
Email this Story
Oct 3, 5:48 PM (ET)
By JEANNINE AVERSA
(AP) George Williams uses a phone in the resource center at Pennsylvania Career Link in Harrisburg, Pa.,...
Full Image
Google sponsored links
2008 Ford Official Site - Visit the Official Ford Site Now for the Latest Ford vehicle Info.
FordVehicles.com
1 Rule of a Flat Stomach - Finally, A Diet That Really Works! As Seen On CNN, NBC, CBS & Fox News
www.Wu-YiSource.com
WASHINGTON (AP) - Jobs are vanishing at the fastest pace in more than five years with pink slips likely to keep stacking higher in the months ahead, an urgent signal the country may be careening toward a deep and painful recession just as Americans prepare to elect a new president.
Whether that's Democrat Barack Obama or Republican John McCain, one of them will be dealing with the weakest employment climate in years.
Increasingly skittish employers dropped the ax even harder in September, chopping payrolls by 159,000 - more than double the cuts made just one month before. It was the ninth straight month of job losses. A staggering 760,000 jobs have disappeared so far this year.
The Labor Department's report, released Friday, also showed that the nation's unemployment rate was 6.1 percent, up sharply from 4.7 percent a year ago. Over the last year, the number of unemployed people has risen by 2.2 million to 9.5 million.
http://apnews.myway.com/article/20081003/D93J98201.html
