Unemployment rises to 5.1% as employers cut 80,000 jobs
The Associated Press
Published: Friday April 4, 2008

|
Print This  Email This
 

Apr 04, 2008 07:36 EST -- Employers buffeted by talk of a recession slashed 80,000 payroll jobs in March, the most in five years and the third straight month of losses. The unemployment rate jumped to 5.1 percent.

The new employment figures sounded the loudest warning yet that the country could well be in a recession.

The Labor Department reported that the seasonally adjusted civilian unemployment rate jumped from 4.8 percent in February to 5.1 percent in March. Though the figure is relatively moderate by historical standards, it was nonetheless the highest since September 2005, a time of job losses related to the devastating blows of Gulf Coast hurricanes.

A NY Times/CBS report on the darkening state of the US economy aired Thursday, citing a poll shows that Americans are unsure about their economic future. Watch it below.


Video by David Edwards.

MORE SOON....

 
 


ARCHIVES
EXCLUSIVES
ADVERTISE
FORUMS
CONTACT
GO AD FREE
DONATE
RSS
+MY YAHOO
TIPS