Jobs Cut, More than Expected, Again -- 4/4/2008

Employers slashed 80,000 jobs in March, more than expected, as fears about recession grew. The market was broadly expecting 50,000 job cuts.

In addition, the unemployment rate rose from 4.8% to 5.1%; a clear sign that the economy is shrinking.

These numbers are still the highest we have seen since September of 2005 which were mainly driven by massive layoffs from the multiple devasting hurricaines.

Also Today,

Janet Yellen, San Francisco Fed President said today that the economy has all but stalled, and that the first half of 2008 could mark major slowing aka recession. It seems economists are coming out of the woodwork making this call now...

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