Monthly jobs report bleak
Monthly jobs report bleak
WASHINGTON ? The U.S. economy edged a step closer to recession in December by producing only 18 000 new jobs its worst performance in four years and sending the unemployment rate to a two-year high of 5 percent the Labor Department said Friday. The meager job gains much weaker than expected showed the toll that tightening credit a slumping housing market and a staggering stock market are taking.