September 5, 2008 11:26 AM

Job losses hit 5-year high, reignite fears of new recession

Recession fears are back with a bang, and the economy is front and center in the political arena again after a Labor Department report Friday showed that the nation's unemployment rate leapt to 6.1 percent in August, employers shed jobs for the eighth consecutive month and revised numbers for earlier months showed even greater payroll hits.

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