What job woes mean to you

Even if your job is safe, problems in housing, Wall Street and the auto sector hint at widespread pain and a deeper downturn ahead.

You may think your job is safe. But you still may not be spared the pain resulting from the weak labor market.

The loss of nearly a quarter-million jobs so far this year and a jump in the unemployment rate means the debate over whether there is a recession is pretty much over.

"There is a recession. The question now is how deep and how long," said Lakshman Achuthan, the managing director of the Economic Cycle Research Institute. And he thinks the economy could get worse.

Here's a look at how a deteriorating job market could lead to a worse recession than many are predicting.

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