Unemployment Hits 7.6 Percent

The hemorrhaging continues...

Washington Post:

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.


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