The U.S. jobs picture continued to deteriorate in the latest month. What is just as disturbing is that the downward sloping employment curve is not showing any signs of flattening out yet. Exceptionally high initial jobless gave advance warning that this might be the case. Nevertheless, it is upsetting to see that total job losses in the U.S. now exceed five million since the month-to-month declines began in January 2008.

» read entire article