Employers Slash Jobs by Most in 5 Years

http://biz.yahoo.com/ap/080307/economy.html

In February employers cut 63,000 jobs in February, the most in five years. This appears to be a vivid sign that our country is extremely close to heading into a recession.

According to this article, the Federal Reserve plans to increase the amount of loans made available to banks to $100 billion in order to provide some relief. However, with the large increase in oil and gas prices along with this employment drop, it seems that a recession is inevitable, or is happening already.