Unemployment has reached a 25-year high. Employers cut 651,000 jobs in February bringing the six month total to 3.3 million job losses.
And the word is out that the nation's major banks are, for all intents and purposes, insolvent and will not pass the government's "stress test."
Payrolls sink 651000, jobless rate soars to 8.1%
MarketWatch - 31 minutes ago
By Greg Robb, MarketWatch WASHINGTON (MarketWatch) -- The weakness in US labor markets has gathered extraordinary momentum, wiping away millions of jobs over the past four months alone, the Labor Department reported Friday.
US loses another 651000 jobs Bizjournals.com
US ECON: February Payrolls Fall 651000; Unemployment At 8.1% Forbes
Happening now: Obama discusses economy again
USA Today - 36 minutes ago
President Obama is on stage in Columbus, speaking to police academy graduates. He's using the occasion to talk again about the ailing economy and to point to the police recruits' jobs that have been saved by funding from the $787 billion stimulus ...
Obama to speak to Ohio police recruits The Associated Press
Obama touts effects of economic stimulus package in Ohio guardian.co.uk
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