Job losses could hit 3 million soon, index indicates

[Omaha Steve]

http://www.marketwatch.com/news/story/Job-losses-could-hit-3/story.aspx?guid={1D2CC32B-D1D7-4398-A980-3776F46F73EE}

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.

[hendo]

1. Well, at least the US is #1 in something

:sarcasm:

[valerief]

3. Funny but evil! nt

[hendo]

4. yeah, sorry

I probably shouldn't have said it.

edit:

[valerief]

5. But it was funny. nt

[Double T]

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.