By  on March 10, 2008

WASHINGTON — The latest job figures could confirm widespread fears of a recession as both retailers and manufacturers posted steep employment losses.

Retailers cut payrolls by a seasonally adjusted 14,100 workers in February as the overall economy lost 63,000 jobs, the worst loss in five years, the Department of Labor reported Friday. However, the unemployment rate dropped to 4.8 percent last month from 4.9 percent in January.

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