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January Job Losses in Manufacturing Worst in 26 Years

U.S. employers eliminated 598,000 jobs in January, the most since December 1974, according to statistics from the U.S. Department of Labor. The number was higher than the 524,000 predicted by industry analysts, and brought the total number of jobs lost since the beginning of the recession in December 2007 to 3.6 million. Manufacturing was hit particularly hard in January, with 207,000 jobs lost, the largest single-month loss since October 1982. The worst numbers came from fabricated metal products, with 37,000 jobs lost; motor vehicles and parts, with 31,000 lost; and machinery, with 22,000 lost. Other sectors with heavy losses include business and professional services, with 121,000 positions eliminated, and construction, with 111,000 cut. The only sectors that saw jobs added were government, education, and healthcare.

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