Oct 03

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Employers cut payrolls by 159,000 in September, the most in more than five years, the Labor Department reported Friday, raising new fears that the economy has lost its footing and is sliding into a recession.

Stocks dropped early in trading Thursday after the government reported that the number of people seeking unemployment benefits rose to a seven-year high and that orders for manufactured goods dropped by 4 percent in August.

Jun 06

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The nation's unemployment rate hit 5.5 percent in May as employers cut 49,000 jobs, providing a fresh snapshot of a still-struggling U.S. economy. Employers have now cut payrolls for five straight months.