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March 4, 2009

U.S. private sector bleeds jobs, services slump deepens

Filed under: FYI,Services,unemployment,US — DF @ 12:08 pm
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According to Reuters: “U.S. private companies hemorrhaged nearly 700,000 jobs in February and the service sector slump deepened as the year-old recession showed little sign of abating, according to data released on Wednesday.

The private sector cut 697,000 jobs compared with 614,000 in January, according to an ADP Employer Services report that suggested hefty employment declines are on the way in the government’s more comprehensive payrolls data on Friday.”

February 26, 2009

U.S. Initial Jobless Claims Rose to 667,000 Last Week

First-time claims for U.S. unemployment benefits unexpectedly rose last week and total benefit rolls soared to a record high, a sign companies may keep shedding jobs as the recession worsens.

First-time unemployment applications increased by 36,000 to 667,000, the highest since 1982, in the week that ended on Feb. 21 from a revised 631,000 the prior week, the Labor Department said today in Washington. The number of people staying on benefit rolls rose in the previous week by 114,000 to 5.112 million.

Source: Bloomberg

February 6, 2009

Economy Shed 598,000 Jobs in January

The United States lost 598,000 jobs in January and the unemployment rate rose to 7.6 percent, its highest level in more than 16 years, the Labor Department said Friday.

In addition, the government revised the estimates for previous months to include another 400,000 job losses. For December, the government revised the job loss to 577,000 compared with an initial reading of 524,000. Overall, it said, the nation has lost 3.6 million jobs since it slipped into a recession in December 2007.

Source: NY Times

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