NEW YORK (AP) -- News of a rapidly weakening job sent stocks falling Friday as investors feared that the recession will be deeper and more prolonged than many have expected. The major indexes were all down more than 2 percent and the Dow Jones industrials fell more than 180 points.
The Labor Department's report that employers slashed 533,000 jobs in November came in much higher than the 320,000 that economists forecast. The job losses were severe enough to add to expectations that Washington will have to take even bigger steps to boost the economy.
- AP
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PS - We are in the longest recession since The Great Depression.
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