The economy shed 63,000 jobs in February, the government said on Friday, the fastest falloff in five years and the strongest evidence yet that the nation is headed toward — or may already be in — a recession.
Manufacturers and construction companies, reeling from the worst housing slump in decades, led the declines in payrolls. But the losses were spread across a broad range of businesses — including department stores, offices and retail outlets — putting increased pressure on consumers’ pocketbooks.
http://www.nytimes.com/2008/03/07/business/07cnd-econ.html?ex=1362632400&en=13e8a4f652154631&ei=5124&partner=permalink&exprod=permalink
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