Our Awful Situation
Job loss continues to soar
The writing on the wall continues to say recession:
U.S. employers slashed jobs for the third straight month in March and unemployment rose to a nearly three-year high, offering the latest signs that the economy has fallen into a recession.
The Labor Department’s much anticipated report showed a net loss of 80,000 jobs last month. That marks the third straight month that jobs have fallen - the longest period of decline since early 2003.
Economists surveyed by Briefing.com had forecast that payrolls would fall by 50,000 in the latest reading.
The new report also pegged job losses in January and February at 76,000 each month.
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