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In a clear indication the economic crisis is rapidly heading into a severe global depression, US employers purged 598,000 jobs in January, the most layoffs in a single month since 1974. January's firings raised the unemployment rate to 7.6 percent, the highest level since 1992.
Layoffs accelerated even more rapidly in Canada, where 129,000 workers were fired, the highest monthly toll ever, with the unemployment rate spiking to 7.2 percent from 6.6 percent. Given a Canadian population of about one tenth that of the United States, the job losses are equivalent to about 1.3 million US cuts. Canadian economists, who had anticipated 40,000 layoffs, were left dumbfounded by the data from Statistics Canada.
The new US Labor Department figures, released Friday, also far surpassed the expectations of economists, who had anticipated 524,000 lost jobs. Layoff figures for December (577,000) were also revised upwards. In the coming period, layoff figures are expected to soar well above 600,000 a month.
I wish they would report more on %'s than total numbers. Total numbers can be deceiving when you take into account that there were more total jobs before this crisis.
For instance, let's say there were 20 jobs in 1970 and 3 were lost. Now let's say there were 50 total jobs in 2008 and 5 were lost. 5 is a higher number, but actually carries less impact.
Not saying that we are not in a crisis because we are, but continuing to say "most jobs lost eva" on the news constantly is a half-truth.
when i look around and see a mass of people being laid off and large buisness closing their door I wnder where are these people going to find work and my answer is that they wont, we are in a crisis and if it continues we are in big trouble, every buisness that closes affects another buisness, we are in for a long decline in our economy which will affect every person in some way.
I almost think that companies are laying off people just cause they can and blame it on the economic slump. Beat the snott out of the employees they have left. yeah, seriously, if there is not more permanent stable job creation, we are going to be facing a serious permanent large welfare state in this country.
The main thing I am thinking of is all these unemployeds -- when their cobras run out - what are they gonna do for insurance? Talk about a crisis.
I almost think that companies are laying off people just cause they can and blame it on the economic slump. Beat the snott out of the employees they have left. yeah, seriously, if there is not more permanent stable job creation, we are going to be facing a serious permanent large welfare state in this country.
The main thing I am thinking of is all these unemployeds -- when their cobras run out - what are they gonna do for insurance? Talk about a crisis.
Definitely,
all i know is there will be big disasters if the economy keeps f*cking up.
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