BAD NEWS: The forgettable first half of 2008 is stumbling to a close. On Friday, the Labor Department reported that American employers axed 49,000 jobs in May, the fifth straight month of job losses—an event that signals a recession sure as the glittery ball dropping on Times Square augurs a New Year. The report, which [...]
Posts Tagged as ‘Job Losses’
June 7, 2008
Job Losses and Surge in Oil Spread Gloom on Economy
June 7, 2008
By PETER S. GOODMAN, The New York Times
The unemployment rate surged to 5.5 percent in May from 5 percent — the sharpest monthly spike in 22 years — as the economy lost 49,000 jobs, registering a fifth consecutive month of decline, the Labor Department reported Friday.
The weak jobs report, coupled with a staggering [...]
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