159,000 Jobs Lost

latimes.com — As the presidential election season nears its climax, there is growing evidence that the country is slipping into the deepest recession in decades. The latest marker came when the government reported that employers shed 159,000 jobs in September, far more than expected. That was the worst one-month drop in more than five years and brings to 760,000 the number of jobs that have disappeared this year. Economists say the accelerating pace of job losses, combined with the most severe credit crisis since the Great Depression, make it increasingly likely that the government bureau that determines business cycles will eventually stamp "recession" on this one.

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