More grim news on jobs as signs point to deeper recession »
Posted By ameliog 10 months, 3 weeks ago in Business & Finance
Economists expect the Bureau of Labor Statistics to report that at least 500,000 jobs disappeared in December, in what's sure to be a sign that the contraction in world's largest economy is deepening.
That would bring the total number of jobs lost from December 2007 to December 2008 to almost 2.5 million - the steepest first-year loss of jobs in a recession since the Great Depression.
Read Full Story at mcclatchydc.com »
719 Views Share Story 20 Comments Report
Submitted By:
ameliog
Where there is charity and wisdom, there is neither fear nor ignorance. (St. Francis of Assisi)
How many legs does a dog have if you ...
Who Also Submitted:
RSS Join the Discussion
+ Add CommentComments So Far: 20 (view all)
-
-
100%
ybdogsct10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
And it's going to get worse.
Reply
Many stores likely withheld layoffs until after the holiday season so that they would have enough staff to serve the holiday crowds.
But now the holiday season has passed, the layoffs will start en masse. I wouldn't be surprised if the January unemployment numbers next month dwarfed the December unemployment numbers presented in the article.-
100%
CajunChamp10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
Industry by industry, locale by locale. I do some of the IT work for the 10 local Home Depot stores here in the metro New Orleans area and they are in a hiring frenzy this week and for the remainder of January. We're just not experiencing this situation here although Lowe's did lay off about 20 employees but I think they were on the chopping block anyway and the economy was just the excuse. Sears is hiring, Best Buy, etc. Even Macy's reopened. We may be a bit exclusive because of the Katrina recovery, who knows. And gasoline is 1.39/gal.
Reply
-
-
18%
4thchance10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
In just a few more days, Obama will take the wheel, then anything and everything will be all OBAMA'S FAULT! I can't wait for that day to come. I'm getting my BLAME OBAMA game all warmed up and ready to go :-)
Reply
Alot of bad weather in 2009, all Obama's FAULT
Economy in the dumper of 2009, all Obama's fault
Markets going down and down in 2009, all Obama's fault
If I burn my toast, scratch my car, all Obamas fault etc.
Just like everything that went wrong from 2000 to 2008 was all blamed on Bush. Does not matter now, the democrats have set a new standard for the sitting presidents, IT'S THEIR FAULT, no matter what, it's the fault of the sitting president, YEEHAA!
Fun fun fun!-
82%
ybdogsct10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
4THCHANCE:
Reply
"In just a few more days, Obama will take the wheel, then anything and everything will be all OBAMA'S FAULT! I can't wait for that day to come. I'm getting my BLAME OBAMA game all warmed up and ready to go :-)"
This comment discloses the Republican post-election mindset and strategy.
4THCHANCE claims that Democrats never gave GW Bush a legitimate chance for a successful presidency, but 4THCHANCE clearly forgets the fact that GW Bush enjoyed an approval rating over 90% after September 11, as the graph in the link below shows.
http://www.washingtonpost.com/wp-dyn/content/graph...
This approval rating cut across political ideologies as the country (Democrats AND Republicans alike) as well as the entire world rallied around the U.S. and its president following September 11th. But GW Bush squandered this good will through repeated acts of incompetence, arrogance, and corruption as evidenced by the Iraq quagmire, Bin Laden's escape from Tora Bora, the Hurricane Katrina relief debacle, the outing of CIA agent Valerie Plame, the unconstitutional wireless wiretapping program, the illegal Dick Cheney Energy Task Force, the Abu Ghiraib scandal, the establishment of secret prisons in countries that allow torture of prisoners, etc.
Bush's approval ratings didn't drop from over 90% simply because of he was a Republican. They dropped as a direct result of Bush's poor performance in office.
Meanwhile, you have resorted to destroying a president-elect who hasn't even assumed office yet, hasn't enacted any of his policies yet, and hasn't been indicted for committing illegal acts.
In the disarray of the Republican Party, you demonstrate that you are only interested in one thing -- tearing down members of the opposing party out of spite for their pathetic losses in 2008 and 2006. And if it means you have to bend the truth to do so, then so be it. In so doing, you've prioritized political party over country; blind ideology over truth.
Your own comments have disclosed this scorched-earth neocon strategy -- one that is as transparent as it is pathetic.
I've never seen such big crybabies.
You lost in 2006 and 2008. DEAL WITH IT! -
-
-
-
100%
Harbeas10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
This is what is wtrong with our party system. This person can't wait to blame Obama. My god, let's hope he can do something for the economy. I don't care what party he belongs to if he can turn things around, and we better hope he does or we will be looking at a severe recession/depression. Let's forget about the party and try and support the man in office instead of putting roadblocks in his way. It's not in this country's best interest if he fails. Incidentally, I did not vote for him but he is my president now. We should be much more concerned about the congressmen/women we have in congress. To the article though, as people are laid off there is less buying power and then less goods are being produced and sold, consequently more people are let go and this just keeps going around and around. Obama primary goal should be to create jobs.
Reply-
100%
MotiGui10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
"or we will be looking at a severe recession/depression."
Reply
I heard that you know we're in a depression when two things occur - 12% unemployment, we're at 7+% now and hedge fund managers leap from the tallest building without a red cape.
-
-
25%
ningyo10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
the real grim news is the obama stimulus package--this huge new govt spending spree will make the recession deeper and recovery take longer--its just a tool to justify the latest installment of the creeping socialism from the left--the economy will recover on its own and the lib/dems can take credit and tell us we need to continue all these new govt programs--socialized medicine will the first really big grab--then the fairness doctrine --this is fdr's dream come true
Reply-
Neutral
jaern10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
creeping down socialism- because Capitalism has done so well! Have you written to your former capitalistic Wall St friends turned socialists and demanded them to return their government handout? Or is that kind of socialism OK if it saved your foolish 401K stock market retirement account?
Reply
-
-
-
-
Neutral
truthiness10 months, 3 weeks ago
This comment is below the standard viewing threshold View It »
Obama's stimulus plan (and we all know about the best laid plans) include government sponsored work projects to create jobs and turn this trend around. unlike FDR's WPA plan which had the govt as the primary employer, Obama has stated he wants to contract 80% of the work to private employers. He also wants the work to be involved in two primary areas; 1) refitting govt buildings for more efficient energy use (from solar panels to better insulation), and 2) infrastructure redevelopment.
Reply
the benefit of contract these two types of work out to the private sector is that they will result in increased innovation in other areas of the private sector. an example of this is NASA. NASA contracts all of its industrial work to private contractors. they can then use aspects of the technology for proprietary purposes. e.g. the heat shields on shuttles led to teflon coated pans and bullet proof vests. other offshoots of the space program are microwave ovens, velcro, and satellite television.
it will be worse before it gets better, but at least we have a logical plan in front of us. my only criticism of his plan is that he appears completely unworried about the deficit increase his methodology will cause. failure to account for this could undo all short term gains in the long term.
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.