U.S. economy sheds 663,000 jobs

[Chris Ryser]

U.S. economy sheds 663,000 jobs
Fri Apr 3, 2009 8:56am EDT

WASHINGTON (Reuters) - U.S. employers slashed 663,000 jobs in March, lifting the unemployment rate to 8.5 percent, the highest since 1983, official data showed on Friday in a report underscoring the growing distress in the labor market.

The Labor Department also revised January data to show job losses of 741,000 that month, the biggest decline since October 1949, as the economy battles a recession that has entered its 16th month.

The decline in non-farm payrolls in February was unrevised at 651,000.
Analysts polled by Reuters had forecast non-farm payrolls falling 650,000 in March. They had forecast the unemployment rate rising to 8.5 percent from 8.1 percent the prior month.

Since the start of the recession in December 2007, the economy has shed 5.1 million jobs, with about two thirds of the losses occurring in the last five months, the department said..........................................

whole article: http://www.reuters.com/article/ousiv...090403?sp=true

[obxeyeguy]

Last week they said our county un-employment was 17.3%.

[allanon]

underemployment, perhaps.

[peregrinerose]

I can't say these numbers surprise me much. In my private practice, the bulk of the patients I'm seeing are either using their benefits before they are gone due to lay-offs, or they have a spouse that was recently layed off, or they are in fear of being layed off. At the WM I fill in at, many patients have recently lost jobs. My husband is one of the numbers as well :shiner:

[GAgal]

In my county and the surrounding areas we had around 8,000 unemployed in February and in March our major employer just shut down 2 plants resulting in about 600 more layoffs. It's so bad, our town was even featured in the Chicago Tribune last week.

[Johns]

Things are bad all over, but they've been bad here for awhile, and it doesn't even seem to be a topic of conversation anymore.

Just another day...

[EyeGrass]

The economy is bad, but people still need our goods and our service. I just spent time with 10 of the most positive,talented, most upbeat folks I have ever met. I am recharged and ready to be the first choice of the consumers in my area. My suggestion is to surround yourself, or at least stay in touch with the winners.