US Job Losses Surge To Highest Since 2003
April 4, 2008
The US experienced job losses of 80,000 jobs for the month of March a headline figure which is the highest since March 2003. After a hefty downward revision to both January and February’s labor reports, the cumulative total of job losses for the first quarter of 2008 now stands at 232,000. Such poor job numbers have solidified many analysts’ resolve that the US economy is indeed in the middle of a recession. With the news bolstering the bears, the USD Trade Weighed Index, a measure of the USD against a basket of currencies, continued to trade at all time lows on the news.