As bad as job losses were during the recession, we're about to find out that things were even worse.
The long-battered U.S. job market showed some signs of improvement in July as employers cut far fewer jobs from payrolls and the unemployment rate fell for the first time in more than a year, according to a government report Friday.
Private-sector employment recorded its smallest monthly drop in nine months during July, but the number of job cuts announced in the month spiked 31%, according two reports released Wednesday.
The unemployment rate hit a 25-year high in April, but there were signs of hope as the monthly job loss total fell to the lowest level in six months.
Job losses continued to mount in March and unemployment hit a 25-year high, according to the government's latest reading on the battered labor market Friday.
The second week of December was another brutal one for jobs, as Bank of America and at least 20 other companies announced more massive cuts.
Office Depot, Yahoo and Electronic Arts have added to the mounting job losses in the global economy, with more than 4,000 positions slated for elimination.
Talk that the government will soon approve a $15 billion auto industry bailout gave a lift to stocks Wednesday morning, one day after a big selloff.
The job toll continued Tuesday, as Sony Corp. and five other companies announced cuts totaling nearly 15,000 positions.
updated: Mon Dec 08 2008 22:14:00
Factory workers in Chicago stage a sit-in and refuse to leave the factory after being laid off.
The already bruised labor market could see further losses, according to a report issued Monday by a leading business research organization.
The economy continues to recede, leaving massive job losses in its wake. But while layoffs are widespread, they are not across the board. Some industries are thriving -- and hiring.
The nation's job market was dealt a savage blow this week as a slew of companies announced more than 34,000 layoffs, and the government reported that nearly 2 million jobs have been lost this year, through November.
The employment report for November was bad enough on its face, showing a labor-market picture of nearly complete devastation.
Stocks staged a big comeback Friday, erasing big losses after a brutal November employment report, as investors extended the recent trend of buying despite the bad news.
In November, the U.S. economy shed jobs at the fastest rate in 34 years - and experts say December could be even worse.
The economy shed 533,000 jobs in November, according to a government report Friday - bringing the year's total job losses to 1.9 million.
There are currently a record number of unemployed college graduates seeking work. So many, in fact, that they outnumber high school dropouts on the job hunt.
Wall Street was thumped by more bleak economic news early Friday, as the government reported the heaviest monthly job loss in nearly 34 years.
In the midst of a recession, huge job losses are expected to continue for at least several more months. But what really worries economists is that the job market could be slow to recover even when the economy begins to improve.
The number of Americans filing new unemployment insurance claims decreased last week, but the number of people continuing to collect benefits hit a 26-year high.
Jobs took another painful hit in November, with planned cuts rising to the highest level in seven years, according to a report released Wednesday by an outplacement firm.
Job seekers with no ties to any particular location often seek jobs in big cities like New York, Chicago, Illinois, Los Angeles, California, or San Francisco, California.
The number of Americans filing new unemployment insurance claims edged down from a 16-year high, but remained elevated above the half-million mark.
With auto sales at the weakest pace in 25 years and a government bailout far from certain, job losses in the struggling industry could potentially get much worse.
President Bush signed legislation Friday to extend unemployment insurance benefits nationwide, his spokeswoman Dana Perino said.
Citigroup unveiled bold plans Monday to cut more than 50,000 jobs, the latest move by the struggling bank to cut costs in order to weather the credit crisis plaguing Wall Street.
The number of Americans filing new claims for unemployment insurance last week surged to the highest levels since the wake of the Sept. 11, 2001, terrorist attacks, and the number of people continuing to collect benefits rose to a 25-year high, the government said Thursday.
Fred Wadsworth sat at breakfast Monday morning wondering how he'll put food on his table from now on.
updated: Mon Nov 10 2008 21:38:00
The global shipper delivers bad news to Wilmington, Ohio. CNN's Allan Chernoff reports.
Global delivery company DHL announced Monday that it was cutting 9,500 jobs as it discontinues air and ground operations within the United States.
The first week of November has been brutal for the job market, with nearly 15,000 announced job cuts from a slew of companies across multiple industries.
The government reported more grim news about the economy Friday, saying employers cut 240,000 jobs in October - bringing the year's total job losses to nearly 1.2 million.
For years, bad loans and their aftershocks have been sending homeowners into foreclosure. Now it's lost jobs that are putting troubled borrowers over the edge.
October was another awful month for jobs. Two key employment reports released Wednesday showed the largest number of planned job cuts in nearly five years, with private sector jobs falling by the largest amount in nearly seven years.
The number of out-of-work Americans filing new claims for unemployment insurance rose last week, the government said Thursday, reflecting continuing weakness in the nation's economy.
The number of states suffering monthly job losses more than doubled in September, with Michigan losing the greatest number of jobs, according to a government report released Tuesday.
updated: Fri Oct 17 2008 13:19:00
Dallas school officials laid off 375 teachers after administrators made a massive budget error. WFAA reports.
The turmoil on Wall Street has come to the Pit Stop, a bar in the blue-collar town of Marengo, Iowa.
News of the financial crisis is everywhere. And while average Americans used to feel blissfully disconnected to the workings of Wall Street, it's now become clear that the fates of those on Wall Street and Main Street are closely linked.
Employers made deeper cuts in their payrolls in September, according to the Labor Department's monthly jobs report, as the economy experienced the biggest drop in jobs in more than five years.
With jobless claims and unemployment climbing, employees across the country are holding their breath, hoping to hang on to their positions and paychecks.
The number of job cuts announced in September rose as the economy slowed, according to a report released Wednesday.
Dear Annie: I work for Hewlett-Packard, which, as you probably know, is planning to lay off more than 24,000 people worldwide over the next three years. It seems that most of those on the chopping block are employees who came along with HP's acquisition of EDS. Since I happen to be in that group, I wonder if I should leave now, or wait and see what happens. On the one hand, I like it here, and my immediate boss has told me that he sees a great future for me at HP, so I should "just sit tight." On the other hand, I have two other job offers, one that came from a recruiter, and another from a former EDS colleague who left before the merger. Any advice on what to do? -Dangling Man
The credit crisis is taking its toll on financial firms, leaving many people on Wall Street out of work and many more uncertain about whether they will lose their jobs in the coming months.
Lehman Brothers employees face the bleakest employment conditions in recent Wall Street history, and experts say there will likely be more painful financial sector job losses to come.
The number of out-of-work Americans who signed up for jobless benefits rose last week, the government reported Thursday, surprising economists who expected fewer claims.
The unemployment rate soared to a nearly five-year high in August as employers trimmed jobs for the eighth straight month, the government reported Friday.
Stocks ended mixed Friday after a tough session and week, as a rally in the hard-hit financial sector countered amplified recession fears that were sparked by a weak labor market report.
The nation's unemployment rate hit a five-year high of 6.1% in August as employers slashed 84,000 jobs, proof of the mounting damage of a deeply troubled economy
August was another bad month for the job market. But many economists also are predicting job losses to continue deep into 2009 as well.
The number of summer job cut anouncements reached its highest level since 2002, according to a report released Wednesday.
The number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month
The number of newly laid-off workers seeking unemployment benefits fell more than expected last week, the second straight drop from a six-year high, according to government data released Thursday
The number of out-of-work Americans who signed up for jobless benefits fell for the second week in a row, coming in below economists' expectations.
Oil prices are falling sharply, and that's good news. But not nearly as good as you might think.
The nation's employers continue to put jobs on the chopping block at a steep rate as the economy struggles, according to a new report.
Employers cut jobs in July for the seventh straight month, while the unemployment rate hit a four-year high, according to a government report released Friday.
The nation's unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs
The July jobs report is due out Friday, the same day that automakers report their U.S. sales for the month.
Employers trimmed jobs from their payrolls in June for the sixth straight month, as the government's closely watched report Thursday showed continued weakness in the labor market.
Economists are forecasting that the unemployment rate retreated slightly in June after May's big spike. But few believe that is a sign that the battered labor market is at or even near the bottom.
Today's troubles in the U.S. economy and labor market could very well turn out to be a lucky break for the next president, no matter who is elected.
The latest hit to the economy could come from state houses and city halls across the nation, which are in their worst budget crisis in years.
Newspaper publisher McClatchy Co. is slashing 1,400 jobs, or 10 percent of its work force, as part of an accelerating drive to cut costs as advertising revenues dwindle, the company announced Monday
Amid an ever worsening jobs picture, House lawmakers have approved a measure Thursday to extend unemployment benefits.
Unemployment is likely to continue to rise as companies cut more jobs, according to a new index from a respected business research group released Monday.
A spike in the unemployment rate - the biggest in more than two decades - raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing and credit markets are leading the U.S. economy into a painful recession.
The government reports the nation's unemployment rate jumped to 5.5% in May -- the biggest monthly rise since 1986
The labor market was having enough trouble so far this year.
The number of newly laid off workers filing for unemployment benefits unexpectedly fell last week to the lowest level in a month
Too young to retire, too old to get a new job. That's how many older workers are feeling these days.
Some of the worst economic conditions in the country are where John McCain can least afford them - in electoral battleground states crucial to Republicans' chances of hanging onto the White House.
The number of newly laid off workers applying for unemployment benefits rose slightly last week, indicating the weak economy was still weighing on the job market.
As disappointing quarterly results come pouring in, companies trying to boost profitability are looking to cut costs in a tried-and-true way: cutting tens of thousands of jobs.
U.S. employers slashed jobs for the third straight month in March and unemployment rose to a nearly three-year high, offering the latest signs that the economy has fallen into a recession.
There's already been a wave of layoffs on Wall Street this year, and the Bear Stearns buyout could trigger another round of pink slips.
February was another bad month for jobs as two key employment reports showed more signs of labor weakness Wednesday.
Job cuts increased 69% in January from the previous month, as the U.S. economy continues to struggle amid a housing and credit slump, according to a survey released Monday by a consulting firm.
updated: Fri Jan 04 2008 04:50:00
CNN's Todd Benjamin asks Paul Donovan and James Shugg what is in store for the economy in 2008.
The labor market is expected to end 2007 with a whimper, but even that modest forecast could be seen as "the good old days," since monthly job losses may become common in the year ahead, according to economists.
Corporate profitability and the weak dollar in 2007 may have staved off job cuts in non-financial sectors, but big-name banks could announce more major layoffs this year, according to a report Thursday.
It's been a rough 2007 for Big Pharma workers. Crippled by mounting competition and slowing pipelines, the country's largest drugmakers have announced plans to shed a record number of jobs this year - more than 30,000 at last count - that are unlikely to ever return.
updated: Thu Oct 04 2007 15:27:00
The Florida real estate market is taking a hit, as Headline News' Jennifer Westhoven reports.
The big and unexpected job loss in August shook economists and investors, and while the September report due Friday is expected to show a hiring rebound, job seekers should still be nervous.
Bank of America Corp. will lay off about 2,500 employees in Illinois during the next two years as part of its planned $21 billion purchase of Chicago's LaSalle Bank Corp., a spokesman said.
In another sign of how dire the subprime mess has become, mortgage lenders shed about 18,000 jobs this month, according to one estimate.
Troubled mortgage lender Countrywide Financial Corp. has started laying off employees in an effort to cut costs as it faces a credit crunch, according to a report published Monday.
Job cuts have begun at Bear Stearns and that could mark the start of a broader wave of layoffs across Wall Street as firms survey the damage caused by the recent downturn in financial markets.
Planned U.S. lay-offs fell 23 percent in July to the lowest in 12 months, but cuts in the transportation and electronic industries were the most in more than a year, an independent report showed Wednesday.
Planned U.S. layoffs fell 23 percent in July to the lowest in 12 months, according to one survey released Wednesday, but a separate reading showed relatively modest gains in private sector employment in the month due to cutbacks in manufacturing and construction.
Planned U.S. layoffs fell 22 percent in June from May, as manufacturing showed the need for more workers than in the same month last year, an independent report showed Thursday.
Motorola said Thursday it expects to incur a net pretax charge of $101 million in the second quarter in connection with its previously announced work-force reductions.
The U.S. labor market showed increasing signs of weakness last month as the number planned job cuts topped 100,000 in September, according to a report released Tuesday.
Back-to-work season begins after Labor Day. But so, too, does a new season of job cuts.
Tech workers are back in hot demand, according to a report released Monday.
There was a time that layoffs took a holiday between Thanksgiving and New Year. Not any more.
Dear Armchair Millionaire: I work for a company that has been downsizing and laying off a lot of people. I'm afraid the ax could fall at any time. What steps should I take to see me through losing my job?
Ford Motor Co., whose North American automotive operations lost $1.21 billion in the second quarter, said Friday it is not ruling out deeper job cuts in its salaried work force to help return to sustained profits.
Job cuts jumped 35 percent in June, with the number of layoff announcements pushing the monthly total to its highest level since January of last year, an employment firm said Wednesday.
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