January's loss of 598,000 jobs hit factory workers and professional and business-services employees hardest.
Until then, employment, output, and housing prices will keep falling.
Obama vows action as jobless rate jumps to 6.5 percent.
Citing dreary job numbers, some economists see the first 'recession election' since 1980.
A $10 increase in the price of a barrel of oil can lower GDP by about 0.2 percent.
The government aims for more spending, but in the past many saved their checks.