With bad employment data, oil at $106 per barrel and the Dow Jones below 12,000 (11,923 as of 12 noon hour)...time to break out the Wall Street News Wire (LA Daily Blog exclusive)
USA TODAY: By Barbara Hagenbaugh, USA TODAY
WASHINGTON — Employers cut jobs for a second month in February while the unemployment rate fell as more people quit looking for work in the weakening job market, the government said Friday in a report that led to further calls of a 2008 recession.
The Federal Reserve, shortly before the report was released, underscored its concern for the economy by saying it will pump more cash into financial markets to try to ease credit.
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Friday, March 7, 2008
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