The U.S. economy lost another 598,000 jobs in January, a larger than expected decline that highlighted a weak global economy and the pressure building on companies to cut costs and payrolls.
It is the largest one-month job loss since December of 1974, and pushed the unemployment rate to 7.6 percent, from 7.2 percent in December.
That is the highest unemployment rate since the fall of 1992, with 11.6 million people out of work -- and would have gone even higher except for a slight decline in the number of people looking for work, itself a possible sign of economic weakness as people become discouraged from job-hunting.
Moral of the story: If you hate your job, suck it up and consider yourself lucky that you even have one.
Exit question: How many of you have either lost their jobs or have friends/family that have lost theirs? Two of my closest friends are in that boat.
Mitt Romney says that he's the man to fix our nation's ailing economy because of his extensive business skills. Well, he is a wealthy member of the 1 percent, however, he has not always been much of a success. Actually, one Kansas City company in that Romney purchased a majority share was bankrupt within a decade. Also, your tax dollars likely helped hand Romney a nice bail out. Read more...
Ed Schultz spoke to Sen. Bernie Sanders about the disappointing jobs numbers to come out this week and leave it to Bernie to make sure the conversation was devoid of any spin and to get to the heart of the problem with our economy right now, which Read more...