As the economy slows, job cuts increase: manufacturing, retail, and banking are just a few sectors that have seen large cuts. According to government research, 17,000 jobs were cut this January, the largest ''shed'' of jobs since 2003.

Stone and McCarthy Research Associates economist Ray Stone said, "My impression of labor market conditions right now is that things are softening and employment growth may ultimately turn into outright declines."

Companies such as General Motors, Macy's, and Whirlpool Corporation are all cutting jobs: GM plans to cut 74,000 jobs, Macy's 2,300, and Whirlpool 1,250.

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