The followings are part of Yahoo Finance news:
The nation's unemployment rate in January jumped to 7.6 percent, the highest in more than 16 years, and the number of newly laid-off people signing up for unemployment benefits has been climbing in recent weeks. The government will release February jobs data on Friday and many economists expect the unemployment rate rose to 7.9 percent while employers cut nearly 650,000 jobs.
A few bright spots: makers of pharmaceuticals and biotechnology products saw production gains. The Boston region reported sales growing at a double-digit pace for biopharmaceutical firms. The Chicago region reported strong demand for pharmaceuticals and the Richmond region noted temporary hiring at pharmaceutical companies.
Makers of computers, semiconductors and other information technology products saw further declines in production and orders in the Dallas and San Francisco regions.
And even health care services -- one of the few parts of the economy that has been adding jobs during the recession -- felt fallout from the downturn in the Richmond, Minneapolis and San Francisco regions. Providers of health care services reported falling patient volumes, which were partly attributed to a drop in elective procedures, those regions reported.
The nation's unemployment rate in January jumped to 7.6 percent, the highest in more than 16 years, and the number of newly laid-off people signing up for unemployment benefits has been climbing in recent weeks. The government will release February jobs data on Friday and many economists expect the unemployment rate rose to 7.9 percent while employers cut nearly 650,000 jobs.
A few bright spots: makers of pharmaceuticals and biotechnology products saw production gains. The Boston region reported sales growing at a double-digit pace for biopharmaceutical firms. The Chicago region reported strong demand for pharmaceuticals and the Richmond region noted temporary hiring at pharmaceutical companies.
Makers of computers, semiconductors and other information technology products saw further declines in production and orders in the Dallas and San Francisco regions.
And even health care services -- one of the few parts of the economy that has been adding jobs during the recession -- felt fallout from the downturn in the Richmond, Minneapolis and San Francisco regions. Providers of health care services reported falling patient volumes, which were partly attributed to a drop in elective procedures, those regions reported.
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