Outlook Glooms: Canada lost 129,000 jobs last month; Jobless rate 7.6 pct; 598K job cuts most since '74

TORONTO (AP) -- Canada lost 129,000 jobs last month as the unemployment rate surged more than half a percentage point to 7.2 percent, marking the worst monthly drop in at least three decades. The numbers are far worse than the 40,000 job losses economists expected and outpace losses in Canada's two previous recessions in the 1980s and 1990s.

WASHINGTON (AP) -- Recession-battered employers eliminated 598,000 jobs in January, the most since the end of 1974, and catapulted the unemployment rate to 7.6 percent. The grim figures were further proof that the U.S.'s job climate is deteriorating at an alarming clip with no end in sight.