2008 - most job losses since 1945; unemployment 7.2%
The U.S. unemployment rate is now 7.2%, the highest since 1993.
In 2008, 2.6M jobs were lost - worst year of losses since 1945 - and the rate is accelerating. First time since records keeping started that US has consecutively lost (month-to-month) more than 500,000 jobs - a Major Crisis!
Poised to lose a significant number of manufacturing jobs in the future - a dismal year to come.
US will likely lose more than 3M jobs in 2009 - $1.3T stimulus required.
Scott Paul, of the Alliance for American Manufacturing; Steve Grasso, of Stuart Frankel; and the CNBC news team discuss.
Click Play and give a few seconds to load