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Omaha Steve Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:40 PM
Original message
Job losses could hit 3 million soon, index indicates

http://www.marketwatch.com/news/story/Job-losses-could-...

By Rex Nutting
Last update: 10:12 a.m. EST Dec. 8, 2008

WASHINGTON (MarketWatch) -- Job losses in the United States could easily reach 3 million by the middle of next year, said Gad Levanon, a senior economist for the Conference Board. The private research group said Monday that its employment trends index fell 1.6% in November and is down 13% in the past year. The index looks at eight labor market indicators to judge the path of employment. Since the recession began a year ago, the economy has lost 1.9 million jobs, including 533,000 in November alone. "The continued deterioration in the labor market will exert significant downward pressure on wages," Levanon said.

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hendo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:58 PM
Response to Original message
1. Well, at least the US is #1 in something
:sarcasm:
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valerief Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:39 PM
Response to Reply #1
3. Funny but evil! nt
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hendo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:41 PM
Response to Reply #3
4. yeah, sorry
Edited on Mon Dec-08-08 09:43 PM by hendo
I probably shouldn't have said it.

edit:
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valerief Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-09-08 08:40 AM
Response to Reply #4
5. But it was funny. nt
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Double T Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:06 PM
Response to Original message
2. Try 5 million job loses by the middle of next year.
We're all going to find out how interconnected and interdependent our jobs really are; wages and buying power of the US dollar will plummet.
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