US Job Losses Up
April 4, 2008
The US jobless rate jumped to a two year high last month in a new report given out by the Labor Department today. The report stated that the labor market lost close to 80,000 jobs in March, the largest decline in over five years. The losses for January and February were nearly 150,000 jobs. This was the first time that the job market saw three consecutive months of losses since 2003. As a result, the unemployment rate jumped from 4.8 percent to 5.1 percent.