U.S. Economy

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Economy sheds most jobs since 2003, more cuts seen (AP) -

AP - Jobs are vanishing at the fastest pace in more than five years with pink slips likely to keep stacking higher in the months ahead, an urgent signal the country may be careening toward a deep and painful recession just as Americans prepare to elect a new president.

Payrolls drop by most in 5 years; more pain ahead (AP) - AP - THE LATEST: Employers slashed 159,000 jobs in September, the most in more than five years and the ninth month in a row of nationwide job losses. So far this year, the economy has lost a staggering 760,000 jobs.

Factory orders drop by 4 percent in August (AP) -

AP - Orders to U.S. factories plunged by the largest amount in nearly two years in August as the credit strains began to hit manufacturing with full force.

Jobless claims pushed to 7-year high (AP) - AP - New claims for unemployment benefits jumped last week to their highest level in seven years due to the impact of a slowing economy and Hurricanes Ike and Gustav, the Labor Department reported Thursday.

Durable goods orders drop 4.5 percent in August (AP) -

AP - Orders for big-ticket manufactured goods plunged in August by the largest amount in seven months as demand for both airplanes and autos fell sharply.

Banks, Wall Street firms borrow more from Fed (AP) -

AP - Banks and Wall Street firms ramped up borrowing from the Federal Reserve's emergency lending facility over the past week, a fresh sign of the credit stresses plaguing the country.

Fed leaves key rate unchanged (AP) -

AP - The Federal Reserve kept a key interest rate unchanged Tuesday, saying that strains in financial markets have "increased significantly" but that it would keep an eye on them and act, if needed.