Unemployment Worse Than Expected

Unemployment Labor Department Almost 600000 jobs lost in January. Labor Department says it's the worst job loss in over 30 years
by Michael Snowden
Published: Fri, February 06, 2009 - 7:38 am CST Last Updated: Fri, February 06, 2009 - 7:42 am CST
WASHINGTON (AP) - The government says employers slashed payrolls
by 598,000 in January, the most since the end of 1974, catapulting
the unemployment rate to 7.6 percent.
The Labor Department's report is grim proof the nation's job
climate is deteriorating at an alarming clip with no end in sight.
Job losses were far worse than the 525,000 economists expected.
So was the rise in the unemployment rate, now at the highest since
September 1992.

(Copyright 2009 by The Associated Press. All Rights Reserved.)
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