Friday, February 1, 2008

Payrolls drop for 1st time since 2003

WASHINGTON - Nervous employers cut 17,000 jobs in January — the first such reduction in more than four years and a fresh trouble sign that the economy is in danger of stalling.

Payrolls shrink, first drop in 4-1/2 years
WASHINGTON (Reuters) - U.S. employers unexpectedly cut 17,000 non-farm jobs in January, the first time in nearly 4-1/2 years that U.S. payrolls shrank as fading construction and manufacturing sectors reflected the economy's waning momentum.

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