The nation’s economy lost 598,000 jobs last month
January job losses most since ‘74
-Michael E. Kanell, The Atlanta Journal-Constitution
The nation’s economy lost 598,000 jobs last month, the largest single month of job losses since the economy was staggering through the energy crisis of 1974, according to the monthly report released Friday by the Bureau of Labor Statistics.
The data, even worse than expected, showed the recession deepening: About 3.5 million jobs have been lost in the past year —- more than half during the past three months.
“Today’s jobs report shows the current downturn is far more severe than many have been willing to admit,” said Charles McMillion, chief economist at MBG Information Services in Washington, D.C.
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