The US Economy experienced job losses in the month of January. According to a Government report, employers cut a total number of 17,000 jobs in the month. Payrolls also fell for the first time since August 2003.


Falling employment scenario in the country's economy fuels to the belief that the economy is stepping towards recession.


National Unemployment rate of the economy fell to 4.9% from 5% in December but total numbers of people in labour force declined.



The US Federal Reserve made emergency rate cuts for preventing economic slowdown by making cost of borrowing cheaper.