Economy

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.

Related content

Comments

Videos

More Videos

Fast, long-term relief from opioid dependence? 00:41

Fast, long-term relief from opioid dependence?

Texting while driving: Amanda Clark's story 05:59

Texting while driving: Amanda Clark's story

Offshore corporations - The secret shell game 02:24

Offshore corporations - The secret shell game

President Obama lands in Vietnam 00:52

President Obama lands in Vietnam

Florida 6th Grader Wins National Geographic Bee 00:39

Florida 6th Grader Wins National Geographic Bee

Chernobyl: 30 years later 02:45

Chernobyl: 30 years later

Watch Topher Ingalls' motocross video filmed in SLO County 02:12

Watch Topher Ingalls' motocross video filmed in SLO County

Texas police officer honored with Medal of Valor for shooting Islamic extremists 00:47

Texas police officer honored with Medal of Valor for shooting Islamic extremists

Keeping the poor out of jail 05:12

Keeping the poor out of jail

Democrats yell "shame" on the floor of the House of Representatives 02:00

Democrats yell "shame" on the floor of the House of Representatives

Share Video

Editor's Choice Videos