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Nervous Employers Slash 524,00 Jobs In December

ARI SHAPIRO, host:

NPR's business news starts with unemployment above seven percent.

(Soundbite of music)

SHAPIRO: This morning, the government released its closely watched monthly unemployment report, and it says employers slashed 524,000 jobs from their payrolls in December. That covers nearly every industry. It's the 12th straight month of declines. All told in 2008, more than two and a half million jobs were cut from payrolls, and unemployment now stands at 7.2 percent. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

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