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US economy bleeding jobs, unemployment at 5-year high

The struggling US economy lost 159,000 jobs in September as the weight of the housing collapse and credit crunch hit a broad swath of industries, government data showed Friday.

Payrolls have fallen by 760,000 so far this year as the world's biggest economy has been roiled by a massive collapse in housing that spread to the financial sector and led to global credit crunch.

Webmaster's Commentary: 

Welcome to yet more of Bush's real "legacy"

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Posted on Oct 04, 2008 at 08:42
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