Recordbreaking Job Loss in the US

Last month was considered the worst month of job loss in 34 years, a record breaking 533000 jobs had been slashed by employers showing that this country is going into recession. This increased the unemployment to 6.7%. These job losses were widespread, hitting factories, construction companies, financial firms, retailers, leisure and hospitality, and others industries. The few places where gains were logged included the government, education and health services. These are the worst job reductions since December 1974 were 602,000 positions were cut. Job losses this September and October weren't great either employers cut 403,000 jobs in September and 320,000 were cut in October. Bottomline due to low consumer confidence companies aren't making profit so they have to cut jobs to stay within the budget. Wonder if it can get any worse =\.


AVERSA, J (Fri, Dec 5, 2008). U.S. Loses Record 533,000 Jobs in One Month. Retrieved December 6, 2008, from DFW/News Web site: http://www.nbcdfw.com/news/us_world/NATL-US-Loses-533000-Jobs-in-One-Month-.html