Jobless rate reaches 7.6 percent
Nearly 600,000 jobs lost in January.
February 05, 2009 at 07:00 PM
3 minute read
The original version of this story was published on Law.com
The economy continues on its downward spiral, according to the Department of Labor, as it announced more unpleasant employment statistics on Friday. Last month, 598,000 jobs were lost and the national unemployment rate reached 7.6 percent. The highest unemployment rate since 1992, 11.6 million Americans are now looking for work.
Since the recession officially began in December 2007, a total of 3.6 million people have lost their jobs, and the legal profession–both in-house and outside–has not been spared.
In January, 1,510 employees were laid off from top law firms, according to the BigLaw Layoff Tracker at lawshucks.com.
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