Another half million jobs lost, survey says: Fifth straight month of heavy layoffs should push jobless rate to 7.5%

http://www.marketwatch.com/news/story/Another-half-million-jobs-lost/story.aspx?guid=%7B63760694%2DDDA7%2D4AD9%2D8813%2D56227701CCB0%7D

Another half million jobs were lost last month, and on Friday, the Labor Department will report on January unemployment, which is expected to rise from 7.2% to 7.5%. This article predicts that the statistics and results will parallel the predictions of continuing economic decline. This suggests that layoffs are still on the rise. January will mark the fifth month of heavy layoffs, and this is the first time that jobs have fallen so much for five consecutive months since the Great Depression. Some economists suggest that the heavy job losses may indicate the end of the recession, but others say that the losses will only get worse. It is evident that the economy is continuing to decline, and the US will face the resulting unemployment and economic problems for many more months.