Breaking news! Economy in the toilet!

[Liberal_in_LA]

Just kidding about the breaking news part.

http://money.cnn.com/2009/02/06/news/economy/jobs_january/index.htm

Job loss: Worst in 34 years
Employers slashed 598,000 more jobs in January as unemployment rate climbed to 7.6%.
CNNMoney.com RSS FEEDS (close) By Chris Isidore, CNNMoney.com senior writer
Last Updated: February 6, 2009: 10:46 AM ET

NEW YORK (CNNMoney.com) -- Employers slashed another 598,000 jobs off of U.S. payrolls in January, taking the unemployment rate up to 7.6%, according to the latest government reading on the nation's battered labor market.

The latest job loss is the worst since December 1974, and brings job losses to 1.8 million in just the last three months, or half of the 3.6 million jobs that have been lost since the beginning of 2008.

The loss since November is the biggest 3-month drop since immediately after the end of World War II, when the defense industry was shutting down for conversion to civilian production.

[Royal Sloan 09]

1. K & R, 1 flush, eom

[Greyhound]

2. Wait until spring when the Oct, Nov, Dec, disaster hits.

Fuck...
:(

[Liberal_in_LA]

3. What are you referring too?

[Greyhound]

4. The decline in... well, everything that we are going through now,

is the result of July Aug and Sept of last year. It generally takes about six months for the results of economic change to hit the streets.

The massive firings are happening a little faster because of a combination of panic and greed, but prices, orders, etc. are still going to get worse in the near future. This is why Krugman and so many others are screaming and shouting that WE HAVE TO DO SOMETHING BIG RIGHT NOW! IMMEDIATELY! YESTERDAY IF NOT SOONER! He also says the stimulus is not enough by half, but will help somewhat.

[rucky]

5. I blame the messenger

[SoCalDem]

6. I-got-cher-terlet-right-here