"Worst year for job loss" since 1945

AFL-CIO NOW BLOG Disaster: Unemployment at 7.2 Percent. Real Rate 13.5 Percent:

The jobless numbers out today are worse than even the most pessimistic analysts imagined: 524,000 jobs lost in December, pushing the nation's unemployment rate to 7.2 percent. Under the Bush administration, 2008 has become the worst year for job loss since 1945, with nearly 2.6 million jobs lost last year alone.

...[I]t’s taking longer and longer to find a job, as National Employment Law Project Executive Director Christine Owens notes: "It is particularly telling that the number of Americans who have been looking for work for more than six months skyrocketed to a whopping 2.6 million, now accounting for nearly one in four of the unemployed."

Posted by Chuck Bell at 9:28 AM