Unemployment Rate on the Rise

April 4, 2008 12:00:00 AM PDT
Employers cut 80,000 jobs in March, the most in five years. According to the Labor Department, that marks the third string month for declines.

The unemployment rate jumped to 5.1% percent; up from the 4.8% in February.

The job outlook will be a key factor in interest rate decisions by the Federal Reserve when it meets at the end of this month. Earlier this week, Fed Chairman Ben Bernanke said that a recession was possible in the first half of this year.