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| April 6, 2009: US employment picture bleak as massive job losses continue... |
Reuters reports that U.S. employers slashed 663,000 jobs in March.
The US Labor Department also revised January data to show job losses of 741,000 during that month, the biggest decline since October 1949. Since the start of the current recession in December 2007, the US economy has shed 5.1 million jobs, with about two thirds of the losses occurring in the last five months. The service industries took most of the brunt in job losses, losing 358,000 positions after being axed by 366,000 positions in February. E.&O.E. |
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