Job losses signal that U.S. is in recession

[babsbunny]

http://www.mcclatchydc.com/251/story/53421.html

By Kevin G. Hall | McClatchy Newspapers

WASHINGTON — The strongest sign yet that the U.S. economy is in recession came in a Labor Department report Friday that employers had cut 159,000 jobs in September, twice as many as the average over the previous eight months.

That was the worst monthly job-loss report since March 2003. Combined with a stream of earlier data from declining factory orders to auto sales, it left analysts with no doubt that the economy is sinking fast.

"Previous monthly job losses averaged about 75,000 from January through August, so the September report shows clear evidence that we have taken another step down into a deepening recession," said Stuart Hoffman, chief economist for the PNC Financial Services Group.

[OhioChick]

1. Ohio never left the first recession. n/t

[YOY]

2. Nope.

Anyone who goes there can see that. It's sad every time I go home.

You know Ohio's biggest export?

Educated Ohians who can't find a job in Ohio.

[Poll_Blind]

3. And Wall Street's reponse? "Thanks for the money, bitches! We'll call YOU when we're better!" n/t

PB

[EFerrari]

4. How is this news to anyone? n/t

[Tierra_y_Libertad]

5. Water is wet...even to the blind.

[57_TomCat]

6. And your point is???

We have been making that point for awhile and then the party leadership jumps like a dog for a biscuit and give Bush what he wants.

[madrchsod]

7. when they figure out there is a recession

recovery is usually on it`s way. theres going to be a big change in this country nov 5th