Bad moon on the rise

I know there are specific definitions of recession and it is possible that we have yet to meet them. Any way you slice it, the economy is in the tank and it is hitting those hardest who can least afford to be hit in the first place.

WASHINGTON – Employers slashed 63,000 jobs in February, the most in five years and the starkest sign yet that the country is heading dangerously toward recession or is in one already.

The Labor Department’s report, released Friday, also indicated that the nation’s unemployment rate dipped from 4.9 percent in January to 4.8 percent last month as hundreds of thousands of people — perhaps discouraged by their prospects — left the civilian labor force.

Job losses were widespread, with hefty cuts coming from construction, manufacturing, retailing, financial services and a variety of professional and business services. Those losses swamped gains elsewhere, including education and health care, leisure and hospitality and the government.

South Brunswick Post, The Cranbury Press
The Blog of South Brunswick

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Author: hankkalet

Hank Kalet is a poet and freelance journalist. He is the economic needs reporter for NJ Spotlight, teaches journalism at Rutgers University and writing at Middlesex County College and Brookdale Community College. He writes a semi-monthly column for the Progressive Populist. He is a lifelong fan of the New York Mets and New York Knicks, drinks too much coffee and attends as many Bruce Springsteen concerts as his meager finances will allow. He lives in South Brunswick with his wife Annie. View all posts by hankkalet