Family members are out of works. Friends are loosing their homes. No it's not Detroit 1985. It's every where in the US 2008. So it is no surprise that the U.S. Labor Department announced today payrolls drop for the first time since 2003.
Nervous employers cut 17,000 jobs in January - the first such reduction in more than four years and a fresh sign that the economy is in danger of stalling. Family we need to stop being picky and hold on to even a piece of a job or get a second job to get us through this rough period.
Remember we are not "In It ...
We are just "Going Through It." Back to the stats: The Labor Department's report, released Friday, also showed that the unemployment rate dipped slightly to 4.9 percent, from 5 percent, as the civilian labor force shrank slightly.
Job losses were widespread. Manufacturers, construction firms and a variety of professional and business services eliminated jobs in January - reflecting the toll of the housing and credit debacles. The government cut jobs, too. All those cuts swamped job gains in education, health care, retailing and elsewhere.
Wage growth also slowed, another indication that employers are tightening their belts amid the economic slowdown. Check out AP Economics Writer, JEANNINE AVERSA for the rest of her story.