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Friday, March 7, 2008

US Payrolls Fall Again...


WASHINGTON (Reuters) - U.S. employers unexpectedly cut jobs in February at the steepest rate in nearly five years, a second straight month of employment losses that heightened fears the world's largest economy has skidded into recession.

"The question appears no longer to be are we going into a recession but how long and deep it will be," said economist Joel Naroff of Naroff Economic Advisors Inc in Holland, Pennsylvania.

The Labor Department on Friday said 63,000 nonfarm jobs were eliminated on top of an upwardly revised loss of 22,000 in January, sharply contrary to Wall Street economists' forecasts that 25,000 positions would be added in February. For the rest of this story:

http://news.yahoo.com/s/nm/20080307/bs_nm/usa_economy_jobs_dc_9

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