Nationwide job losses continue to grow

The nation's unemployment numbers are continuing to sink under the weight of the global recession, according to the latest figures.

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This week, ADP reported that private employers cut 697,000 jobs from their payrolls in February. The number, which was larger than expected, comes on the heels of January's report, which also showed monthly job losses exceeding 600,000. Markets will get additional unemployment information at the end of the week when the Labor Department releases its own monthly report. "Sharply falling employment at medium- and small-size businesses clearly indicates that the recession is spreading aggressively beyond manufacturing and housing-related activities," said Joel Prakken of Macroeconomic Advisers LLC in a statement...more

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