Largest US Job Cut in 5 Years Fuels Worries
September, 2008 Job Cuts Top Expectaions
Most people were expecting about 100,000 jobs cut from the US market, but the bad news is in. The labor department reported that 159,000 US jobs were cut in September of 2008. This is another worrisome sign that the economy is headed for a deep recession.
This is the 9th month in a row that jobs have been cut, and it is a symptom of the housing market woes, combined with tight credit. Tight credit affects business as well as consumers. Many small businesses are doing very well, but are having trouble with their day to day operations because of tight credit.
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What Will Employers Cut Next?Financial Crisis and EmploymentIs the Government Bailout of Financials a Good Thing? This entry was posted on Friday, October 3rd, 2008 at 8:24 am and is filed under US Financials. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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