Worst year for jobs since ’45
Annual loss biggest since end of World War II. Unemployment rate rises to 7.2%
By David Goldman, CNNMoney.com staff writer
Last Updated: January 9, 2009: 12:11 PM ET

NEW YORK (CNNMoney.com) — The hemorrhaging of American jobs accelerated at a record pace at the end of 2008, bringing the year’s total job losses to 2.6 million or the highest level in more than six decades.

A sobering U.S. Labor Department jobs report Friday showed the economy lost 524,000 jobs in December and 1.9 million in the year’s final four months, after the credit crisis began in September.

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Employers cut 533,000 jobs in November, most in 34 years
By Jeannine Aversa |  The Associated Press
9:09 AM EST, December 5, 2008

WASHINGTON – Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.

The new figures, released by the Labor Department Friday, showed the crucial employment market deteriorating at an alarmingly rapid clip, and handed Americans some more grim news right before the holidays.

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