Another day, another 50,000 jobs lost......

[marmar]

Sacre bleu! :hurts:



AP via Yahoo!:



Job-killing recession racks up more layoff victims
Cascading layoffs hit workers at Pfizer, Caterpillar, Home Depot; no relief in sight

Jeannine Aversa, AP Economics Writer job
Monday January 26, 2009, 3:57 pm EST


WASHINGTON (AP) -- The recession is killing jobs at an alarming pace, with tens of thousands of new layoffs announced Monday by some of the biggest names in American business -- Pfizer, Caterpillar and Home Depot.

More pink slips, pay freezes and other hits are expected to slam workers in the months ahead as companies desperately look for ways to survive.

"We're just seeing the tip of the iceberg -- the big firms," said Rebecca Braeu, economist at John Hancock Financial Services. "There's certainly other firms beneath them that will lay off workers as quickly or even quicker."

Looking ahead, economists predicted a net loss of at least 2 million jobs -- possibly more -- this year even if President Barack Obama's $825 billion package of increased government spending and tax cuts is enacted. Last year, the economy lost a net 2.6 million jobs, the most since 1945, though the labor force has grown significantly since then.

The unemployment rate, now at a 16-year high of 7.2 percent, could hit 10 percent or higher later this year or early next year, under some analysts' projections.

Obama called on Congress Monday to speedily enact his recovery plan, warning that the nation can't afford "distractions" or "delays." .......(more)

The complete piece is at: http://finance.yahoo.com/news/Jobkilling-recession-racks-up-apf-14157797.html

[Warpy]

1. That was before noon, it's 68,000 now

not including all the small losses that will eventually show up on the Layoff Daily http://www.layoffdaily.com/

However, another thread is already calling this Bloody Monday.

Sure looks like it from here.

[lib2DaBone]

2. Bloody Monday..to be followed by Terrible Tuesday....

..to be followed by Wickewd Wednesday.... this is only the beginning.

Republicans caused this horrible mess with their outdated, failed Dogma.. yet we want to "Embrace" them in the recovery.

For all CONservatives, Fundies, Watergater's and Waterboarder's... embrace the one finger salute!