December's job loss expected to exceed November's 533,000 total

[Orwellian_Ghost]

Job picture could get even worse
Unemployment likely to accelerate in December and into 2009 as economic outlook worsens amid a deep recession.

NEW YORK (CNNMoney.com) -- In November, the U.S. economy shed jobs at the fastest rate in 34 years - and experts say December could be even worse.

With the economy in a recession and most indicators signaling even more difficult times ahead, economists say job losses will likely deepen and continue through at least the first half of 2009.

"The economy is now deteriorating with frightening speed and ferocity - it's truly horrific," said Bernard Baumohl, chief economist at the Economic Outlook Group. "We'll see significant declines going forward."

Baumohl expects December's job loss total to exceed November's 533,000 announced by the government Friday, but remain in the 550,000 to 600,000 range. He predicts the economy will have lost 3 million to 4 million jobs for the two years ending Dec. 31, 2009.

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http://money.cnn.com/2008/12/05/news/economy/jobs_look_ahead/index.htm