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nytimes.com - 1/9/2009

Jobless Rate Jumps to 7.2% as U.S. Loses 524,000 Jobs

— nytimes.com — The December losses brought the total decline in employment to 2.4 million for the year, 1.9 million... of them in the last four months, as the recession began to bite deeply. > (more) Jobless Rate Jumps to 7.2% as U.S. Loses 524,000 Jobs

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nytimes.com - 1/9/2009

Unemployment Hits 7.2%, 16-Year High

— nytimes.com — December’s job losses brought the total for 2008 to 2.6 million, and a rapidly deteriorating economy promised... more in the months ahead. > (more) Unemployment Hits 7.2%, 16-Year High

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msnbc.msn.com - 1/9/2009

Jobless rate jumps to 7.2 percent in Dec.

— msnbc.msn.com — The Labor Department reported Friday that the jobless rate rose to 7.2 percent in December and payrolls... dropped by 524,000 jobs. (more) Jobless rate jumps to 7.2 percent in Dec.

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Breaking News: 524,000 Jobs Lost in Dec., Unemployment Hits 7.2 Percent
Democratic Underground Latest Breaking News — ... Trying to survive a deepening recession, employers are cutting their work forces to the bone, leaving more Americans unemployed and with dim prospects of finding a new job any time soon. The Labor Department reported Friday that the jobless rate rose to 7.2 percent in December and payrolls dropped by 524,000 jobs, capping a year when job losses were logged every month and presaging more job losses to come. That marks the highest jobless rate since January 1983. MORE AT LINK AP LINK: http://news.yahoo.com/s/ap/20090109/ap_on_bi_go_ec_fi/f... Jobless rate jumps to 7.2 percent ...

Bleak employment picture
Political Animal — ... "could reach double digits." The accelerating job loss -- more than one million jobs have disappeared in just two months -- suggests that the recession will last at least into early summer, making it the longest since the 1930s. The severe recessions of the mid-1970s and early 1980s each lasted 16 months, the current record. What's more, job losses from October and November were revised downward, with 584,000 cuts in November and another 423,000 in October. All told, the economy lost 2.6 million jobs in 2008 , the worst in 63 years.— ...

524,000 jobs lost in December, unemployment rises to 7.2 percent.
Think Progress — The U.S. economy lost 524,000 jobs in December, the 12th straight month of decline. “Nearly 2.6 million jobs were lost in 2008, with 1.9 million destroyed in just the past four months.” It’s the biggest job loss in any calendar year since 1945. The unemployment rate rose to 7.2 percent, the highest since early 1993 — just after the last Bush left office. USA Today charts the job losses over the past year: ...