The manufacturing sector -- a sign of national economic might -- has lost 269,000 jobs over the past 12 months, and 28,000 jobs in January alone. Manufacturing employment now accounts for less than 10 percent of the job market for the first time since data began being collected in the 1930s.
The economic storm clouds burst open yesterday with news that the economy shed 17,000 jobs in January, and the clearest sign yet that the economy may be in a recession.
This isn't a random event. This is the culmination of a bunch of disturbing trends we've seen in seven years. Stagnant incomes, rising costs in energy and food, and little to no personal savings have left families with no margin of error.
02 February, 2008
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