Employers Slash Jobs by Most in 5 Years

March 7th, 2008

Employers Slash Jobs by Most in 5 Years
Friday March 7, 11:19 am ET
By Jeannine Aversa, AP Economics Writer

Employers Slash 63,000 Jobs in February, Most in 5 Years, Feeding Recession Fears
WASHINGTON (AP) — Employers slashed 63,000 jobs in February, the most in five years and the starkest sign yet that the country is heading dangerously toward […]

U.S. Economy: Payrolls Unexpectedly Decline for Second Month

March 7th, 2008

U.S. Economy: Payrolls Unexpectedly Decline for Second Month
By Shobhana Chandra
March 7 (Bloomberg) — The U.S. unexpectedly lost jobs in February for the second consecutive month, adding to evidence the economy is in a recession.
Payrolls fell by 63,000, the most in five years, after a revised decline of 22,000 in January, the Labor Department said […]

U.S. Mortgage Foreclosures Rise as Owners `Give Up’ (Update3)

March 6th, 2008

By Kathleen M. Howley
March 6 (Bloomberg) — U.S. mortgage foreclosures rose to an all-time high at the end of 2007 as borrowers with adjustable-rate loans walked away from properties before their payments increased, the Mortgage Bankers Association said today.
New foreclosures jumped to 0.83 percent of all home loans in the fourth quarter from 0.54 […]

Florida, California push foreclosure starts

March 6th, 2008

Florida and California make up a disproportionate part of foreclosure starts in the U.S. and helped push the national number to new highs, the Mortgage Bankers Association said.
California and Florida together represent 21 percent of all loans outstanding, but accounted for 30 percent of foreclosure starts in the country, the report said. They also […]