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US job cuts highest in more than 5 years
Saturday, October 04, 2008 profit.ndtv.com
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Business
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Employers slashed payrolls by 159,000 in September, the most in more than five years, a worrisome sign that the economy is hurtling toward a deep recession.
The Labor Department's fresh snapshot, released Friday, also showed that the nation's unemployment rate held steady at 6.1 percent as hundreds of thousands of people streamed out of the work force for any number of reasons.
The reduction i
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