Joblessess highest since 1992. (Graphic: Cristina Rivero/Washington Post)

The country moved into its second year of uninterrupted job losses last month, with companies shedding another 598,000 jobs — the most since December 1974 — and the unemployment rate moving up to 7.6 percent, the Labor Department reported on Friday. Economists had forecast a loss of 540,000 jobs and a unemployment rate of 7.5 percent. The jobless rate is at its highest since September 1992. Job losses were once again spread across both manufacturing and service industries, reinforcing the picture of an economy that is contracting at its fastest pace in decades. Read more