Sunday, October 12, 2008

Job Losses

Much of the current news about the economy is focused on the stock market. However, the credit crunch is having far reaching effects. Without going into all the linkages, one result is a slow down in business and the resulting job losses.

Increasingly skittish employers dropped the ax even harder in September, chopping payrolls by 159,000 - more than double the cuts made just one month before. It was the ninth straight month of job losses. A staggering 760,000 jobs have disappeared so far this year.

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