Some things you should know:

• Last month, U.S. employers cut 159,000 jobs last month at the steepest rate in the last 5 1/2 years. This is much more dramatic than Wall Street economists predicted.

• California might need its own individual bailout from the US Treasury. Gov. Arnold Schwarzenegger told Treasury Secretary Henry Paulson that he could need $7 billion to help keep his state functioning.

• The House of Representatives, which has been much less receptive to the bailout bill than the Senate, is scheduled to debate and vote on the bill again today. Congressional leaders are "optimistic" but they say the vote will be close.

UPDATE: The House has approved the $700 billion bailout bill it rejected earlier this week. President Bush is expected to sign it soon.