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We lost 598,000 jobs in January, the largest amount of job losses since 1974. That means that during the recession, the United States has lost 3.6 million jobs.

In other January figures:

• Factories slashed 207,000 jobs. That was the largest one-month drop since October 1982, partly reflecting heavy losses at plants making autos and related parts.

• Construction companies cut 111,000 jobs, professional and business services 121,000, retailers 45,000 and leisure and hospitality companies 28,000.

• There were gains for education and health services, as well as in government jobs, but those were swamped by the losses elsewhere.

The source article says that “best case scenario,” if the recession were to end in the fall, the job market would remain unstable for some time.

Source

Jeremy

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