Employers cut 62,000 US jobs, sixth straight month of losses with even more layoffs looming

Employers cut 62,000 US jobs, sixth straight month of losses with even more layoffs looming : The United States lost jobs for a sixth month in a row in June, a storm of pink slips drenching this year's July Fourth holiday for more than 60,000 Americans and leaving thousands more worried about the future. Weighed down by energy prices and the housing crisis, employers laid off workers in stores, factories and forsaken building sites. With more job cuts expected in coming months, there's growing concern that many people will pull back on their spending later this year when the bracing effect of the tax rebates fades, dealing a dangerous setback to the shaky economy. These worries are rekindling recession fears. "The deteriorating jobs climate will dampen many a barbecue this weekend. It's hard to celebrate when you are out of a... [read full story]