Sunday, January 6, 2008

Unemployment up, stoking recession fears (AP)



A customer walks past a 'now hiring' poster on the door of a Dick's sporting goods store in in Aurora, Ohio on Friday, Jan. 4, 2008.  Employers last month added the fewest new jobs to their payrolls in more than four years, according to the employment report released Friday by the Labor Department. The report showed that employment conditions are deteriorating, strained by a housing slump and credit crunch that are sapping economic strength.  (AP Photo/Amy Sancetta)AP - Wary employers clamped down on hiring and pushed the unemployment rate to a two-year high of 5 percent in December, an ominous sign that the economy may slide into recession. President Bush explored a rescue package, including a tax cut, with his economic advisers.




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