760,000 jobs lost this year?

[S and S 12]

Economy sheds most jobs since 2003, more cuts seen

WASHINGTON - Jobs are vanishing at the fastest pace in more than five years with pink slips likely to keep stacking higher in the months ahead, an urgent signal the country may be careening toward a deep and painful recession just as Americans prepare to elect a new president.

Whether that's Democrat Barack Obama or Republican John McCain, one of them will be dealing with the weakest employment climate in years.

Increasingly skittish employers dropped the ax even harder in September, chopping payrolls by 159,000 — more than double the cuts made just one month before. It was the ninth straight month of job losses. A staggering 760,000 jobs have disappeared so far this year.

The Labor Department's report, released Friday, also showed that the nation's unemployment rate was 6.1 percent, up sharply from 4.7 percent a year ago. Over the last year, the number of unemployed people has risen by 2.2 million to 9.5 million.

Story continutes on this link: http://news.yahoo.com/s/ap/20081004/ap_on_...e5AefBhsFuyBhIF

[w¡n9Nµ7 §£@¥€r 123]

This will not be good for our SOs that are coming

Unemployment is a lagging economic indicator. What this means is this downturn is progressing as expected.

[HappyDancer 7]

I know what you mean. I am leaving behind a good career to become unemployed for a time and not even sure if i get a good employment when i get my EAD.

whew!