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Recession Jobs Losses Top 5 Million –

The U.S. continued to shed jobs at an unrelenting clip in March, pushing total losses since the recession started 16 months ago past five million.

The figures, which included another sharp rise in the unemployment rate to a 25-year high, are a sober reality check on the economy after some mildly encouraging news on housing, automobiles and manufacturing.

The risk is that if job losses continue at their recent pace, nervous consumers will be less likely to commit to the types of big-ticket items that usually propel recoveries, stamping out a recovery before it takes hold.

via Recession Jobs Losses Top 5 Million –


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