US Loses 524K Jobs; Unemployment Hits 7.2%

Makes 2008 worst year for employment since 1945
By Kevin Spak,  Newser Staff
Posted Jan 9, 2009 8:04 AM CST
Crowds of people stand in line as they wait to talk with potential employers during a job fair at Rutgers University, Jan. 7, 2009.
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(Newser) – Employers cut 524,000 jobs in December, which, on the heels of November’s decline of 584,000, made 2008 the darkest year of job losses since the end of World War II, Bloomberg reports. Those numbers were in line with forecasts, but the jobless rate topped its forecast by rising to 7.2%, a 15-year high. “We’re seeing pretty ugly numbers,” said one economist. “The recession is worsening.”