An estimated 345,000 jobs were cut in May, bringing the U.S. unemployment rate up to 9.4 percent. The good news: the pace of job losses is slowing.

For the first time in over 15 years, the U.S. may have a higher unemployment rate than Europe.

David Kellermann, the chief financial manager of troubled mortgage company Freddie Mac, committed suicide in the basement of his house.

Over 660,000 people lost their jobs in March, according to the U.S. Department of Labor. The unemployment total currently stands at 13.2 million.

The world's largest economies have agreed to a $1 trillion deal designed to alleviate the global economic downturn. President Obama describes the agreement as a "turning point in our pursuit of global economic recovery."

The recession is adding stress to libraries across the country as people crowd them to learn how to use the Internet, fill out job applications and, in some cases, use them for shelter.

President Obama has rejected the restructuring plans submitted by GM and Chrysler. Both companies may enter bankruptcy forcing the federal government to back future warranties.

Undocumented immigrants weigh their limited options as the U.S. economy continues on a downward slide.

Over 650,000 people lost their jobs in February, bringing the total of unemployed Americans to 12.5 million.

The Census Bureau projects that by the year 2050, nearly one out of 3 Americans will be Latino.